Perth’s housing market recorded a rare monthly lift in values in November, up to four tenths of a percent over the month and the first month-on-month gain since the downturn paused in early 2018.
Calling a bottom in the market after one month of gains is premature however the trend has been towards an easing in the rate of decline amidst tighter rental conditions and improving labour markets and demographic trends.
Perth continues to show the lowest median house values of any capital city, highlighting the affordability of housing across Australia`s fourth-largest city.
The recent monthly gain was driven by the top quartile of the market where values were up nine-tenths of a percent over the month.
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