Perth Housing Market Update [Video] – November 2016

The Perth housing market has had a reprieve from value falls in October with the CoreLogic index recording a 0.8 percent rise in Perth dwelling values.

Perth city skyline at night

Apart from Adelaide (-1.3%) and Perth (-1.5%), every capital city recorded a rise in dwelling values over the past three months, with the Canberra housing market recording the largest increase in values after a 5.6% quarterly rise.

While the monthly result is a positive outcome for property owners, we will need to see a few more consistent months of growth before we can suggest the Perth housing market has bottomed out.

core4

 

Since dwelling values peeked into December 2014 Perth values have fallen by 9.7%, listing numbers remain relatively high across the city which is likely to dampen the prospects of a market recovery and vendors are still facing long selling times and high discounting rates across the city.

You may also be interested in reading:

Adelaide Housing Market Update [Video] – November 2016



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Tim Lawless

About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


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