Property law in Western Australia (WA) has its own unique characteristics, much like its coffee — distinct and worth understanding before entering the market. If you’re buying or selling property in Perth, you’ll notice several key differences compared to Sydney, Melbourne, or Brisbane. Let’s break them down:
1️⃣ Buying & Selling Styles
WA primarily operates through private treaty sales, often using REIWA’s standard contracts for seamless transactions. In contrast, auctions dominate on the East Coast — and once the hammer falls, there’s no cooling-off period!
2️⃣ Cooling-Off Periods
Buyers in NSW and VIC benefit from a 5-day cooling-off period after signing a contract. In WA? No such safety net! Once you sign, you’re committed — unless the contract includes a finance clause or other contingencies.
3️⃣ Contracts & Legal Framework
WA relies on REIWA-standard contracts, which are balanced, consistent, and regularly updated to protect both parties. On the East Coast, contracts tend to be seller-friendly and are often drafted by solicitors, making it crucial for buyers to scrutinize the fine print.
4️⃣ Deposits & Financial Commitments
- In WA, buyers typically pay a deposit of $10,000–$20,000.
- In NSW, VIC, and QLD, deposits are usually 10% of the purchase price — meaning a $600,000 home requires a $60,000 deposit!
5️⃣ Rental Yields & Market Trends
Perth boasts strong rental yields and low vacancy rates, making it an attractive investment destination. For example:
- A $450,000 property in Perth CBD might generate $650/week in rental income.
- In Sydney, securing similar returns often requires a $700,000+ investment.
Why These Differences Matter
Understanding these nuances ensures you navigate the WA property market confidently, whether you’re buying, selling, or investing. While WA may lack a Harbour Bridge, it compensates with affordable properties, high rental yields, and a thriving real estate market. ☕
Need Expert Advice?
At Rothschild Group, our legal and conveyancing experts are here to guide you through WA’s unique property landscape.
Get in touch today for professional property law advice tailored to your needs!
Subscribe to Our Newsletter
Stay up-to-date with the latest property settlement news, industry updates, and expert advice delivered straight to your inbox.
We respect your privacy. Unsubscribe at any time.