Perth’s housing market looks to have temporarily stabilised after a strong run of growth, with housing values edging 0.2% higher over the month and 0.4% higher over the rolling quarter.
The slowdown in growth conditions has been quite sharp and is potentially attributable to closed state borders along with a rise in advertised stock levels.
New listings added to the marketplace were 24% above the five year average at the end of November, leading to a subtle rise in the number of days it takes to sell a home, which has risen from a recent low of just 14 days in April to a still rapid rate of sale at 21 days in November.
Once state borders re-open we could see the growth trend rebound as demand from interstate migration resumes.
You may also want to read:
National Housing Market Update [Video]
Adelaide Housing Market Update [Video]
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'Perth Housing Market Update [video] | December 2021' have 1 comment
October 18, 2019 Frontline
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