Perth housing market update [video]
Key takeaways
In October: Perth dwelling values rose by 1.4%
Over the quarter: Dwelling values increased by 4.1%
Over the past year: Dwelling values increased by 22.6%
Perth dwelling values are currently at a record high
Perth home values rose another 1.4% in October, adding approximately $10,790 to the median value of a dwelling.
This was the 22nd month in a row where values have increased, and the 18th straight month where values have risen by more than 1%.
Although values are consistently rising, there’s growing evidence that conditions are losing steam, with the rolling quarterly pace of gains at 4.1%, the lowest since the three months ending July of last year. The slowdown in growth comes as advertised stock levels rise from winter lows.
Perth house prices graph
Source: CoreLogic
Based on listings data for the four weeks ending November 3rd, total listings have risen by 24% across Perth, providing more choice and less urgency for buyers.
You may also want to read: National Housing Market Update
