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.
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National Housing Market Update [Video] – February 2018
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