Perth had been showing some signs of stabilizing over the second half of 2017.
Dwelling values have fallen over the past two months taking the market 0.3 percent lower over the quarter.
Despite the recent fall, we believe the worst of the declines are now over, however, the market is expected to remain relatively flat over the coming months.
Buyer demand has lifted off a low base, with the number of settled sales up 0.7%.
Together with a 4.5% reduction in advertised housing stock, rising buyer demand is a strong signal that Perth`s housing market is moving through the bottom of its cycle.
YOU MAY ALSO BE INTERESTED IN READING
National Housing Market Update [Video] – February 2018
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.
'Perth Housing Market Update [VIDEO] | February 2018' have no comments
Be the first to comment this post!