Soaring demand for Mullaloo property shows the market is still hot, with about 25 offers for home that does not have working electricity or plumbing, and has weavils living in the carpet.

An astonishing 500 people attended two home opens in beachside Mullaloo for a dilapidated home, in a sign of the record low listings and the hot market.

The double-storey Korella St home does not have properly working plumbing or electricity, and the toilets don’t flush, among other problems that have developed in the past three years that it has been empty.

But real estate agent David Snell, from One Agency, said prospective buyers — many owner-occupiers desperate for a place to live — were not deterred, partly because of the lack of alternative options.

CoreLogic data shows that there are 9557 current total listings in Perth, which is a 25 per cent drop from last year — and 45 per cent lower than the five-year average.

Mr Snell would not reveal the value of the offers, but in a sign of the magnitude of the bids, he lifted the minimum price by $100,000 to $1.1 million after the first home open.

“There are many problems with this house, including weevils in the carpet,” he said. “You can actually see them moving around,” he said.

He said nearly 300 people attended the first home open, prompting 15 offers, many from owner-occupiers.