Perth dwelling values slipped 3.2% lower over the quarter to take the cumulative decline in values to 10.4% since their December 2014 peak, and 5.2% below the previous peak in 2010.
The Perth marker dwelling values have been falling consistently, the slowdown in transaction numbers is related to demand, which is evidenced by the higher n umber of homes available for sale, as well as the sharp slowdown in migration rates.
With advertised stock levels close to record highs in Perth and Darwin, buyers now have a lot more choice when selecting a property and can negotiate hard on price.
Perth has consistently been recording the highest vendor discounting rates at just over 8% on average, as well as the longest average selling time at 75 and 84 days on average.
As the spring selling season progresses, CoreLogic is now seeing a rise in newly advertised listing numbers, however, there are fewer newly advertised properties entering the market compared with a year ago across the combined capital cities.