When will the Perth’s residential property market bottom out?
Wednesday, August 31st, 2011Recent statistical data released by RP Data today revealed the Perth median house price continued to fall in July to $455,000 which indicates a 6.3% drop from the same time last year. Perth was the second worst performer nationally only to Brisbane. Days on the market for properties that are listed for sale has risen to 55 days up 10 days from 12 months ago. Tim Lawless research Director of RP Data stated “Combined with volatile equity prices, global financial market instability and soft house prices, Australians are understandably reluctant to make high commitment decision at the moment.” In our opinion, although ...
Read morePerth’s property markets continued decline
Wednesday, August 3rd, 2011The Real Estate Institute of Western Australia (REIWA) reported last month that Perth’s median house price fell 2% in the June quarter and has declined for 15 consecutive months and is at the same level as December 2007 at approximately $475,000. This report was confirmed yesterday by Australian Bureau of Statistics (ABS) that Perth’s median house price fell 1% in the month of June and 4.1% for the year which is the highest price fall for an Australian Capital City. This property market decline was also reflected in ABS figures for building approvals which indicated a 3.5% fall nationwide for the ...
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