The Perth housing market remains strong.
Although we have temporarily withdrawn our home value index for Perth and regional WA this month, we can see the strength in other aspects of the market.
Home sales over the past twelve months were 60% higher than the previous twelve-month period and 50% above the five-year average.
At the same time, active listings are about 28% below the five-year average.
The bi-product of such a strong level of demand and low supply is that homes are selling very quickly averaging just 25 days on market with minimal discounting from vendors.
Despite such tight housing market conditions, Perth housing values remain relatively affordable compared with the зерук cities.
The medium house value is just over $555,000 is the lowest of any capital city and the median unit value at $405,000 is the third lowest after Adelaide and Darwin.
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