By Tim Lawless November 16, 2024

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Perth housing market update [video] | November 2024

Property Market News
Perth housing market update [video] | November 2024

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%.

Perth Housing Market Update | November 2024

Watch this video on YouTube

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

Perth 1

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

About Tim Lawless 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

15 comments

ASHLEY 2024-11-18 12:47:06

Perth continuing to do well.

1 reply

Robert 2023-11-21 11:47:07

As the owner of several rental properties who regularly looks at the rental listings in my suburbs my experience is that there is a shortage of quality tenants, not a shortage of rental properties

1 reply

ASHLEY MARCUS STEWARD 2023-06-15 11:08:04

Where is the data around all of these Landlords exiting? You can't say this while saying "sellers are on strike" on all of your other charts. With rents at $550 for a Median House around 600k, we have the best yields. As an owner of multiple proper ...Read full version

1 reply

Would you like to share your thoughts?

ASHLEY November 18, 2024

Perth continuing to do well.

1 reply Reply

Michael Yardney November 18, 2024

yes it is

0 replies Reply

Robert November 21, 2023

As the owner of several rental properties who regularly looks at the rental listings in my suburbs my experience is that there is a shortage of quality tenants, not a shortage of rental properties

1 reply Reply

Michael Yardney November 21, 2023

Thanks for your thoughts Robert, clearly there’s not one Perth property market – that applies to not only the rental market but the sale market

0 replies Reply

ASHLEY MARCUS STEWARD June 15, 2023

Where is the data around all of these Landlords exiting? You can’t say this while saying “sellers are on strike” on all of your other charts. With rents at $550 for a Median House around 600k, we have the best yields.
As an owner of multiple properties why would I put the rent up more than every 6-12 months? If you manage a property well enough their is no need. BTW Great to see Hillarys and Leederville get to the Million club. Hillarys was 95k back in 1993. Thats a 952% Increase

1 reply Reply

Michael Yardney June 15, 2023

I agree that it makes no sense to sell now, but I’m quoting stats from realestate.com.au and domain – I guess some vendors are seeing hte value of their properties rise after years and years of no growth so they’re getting out

0 replies Reply

Mark Hamilton May 7, 2023

Cap rental increases, thats almost funny how about killing the spider rather than removing webs? the issue is the banking system, who in their right mind would allow any business to up payments on goods that have already been sold, once a home loan has been distributed to a client those funds have no additional cost to the bank who distributed them anymore than a sold motor vehicle to the dealer outside the warranty period. Stop variable interest rate loans they are the real issue which in the end only serve the banking system. Do we want to speak about how banks create money out of nothing now?

1 reply Reply