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Perth Housing Market Update [Video] – August 2016

The Perth housing market has continued to lose some steam.

Darwin and Perth remain as the only two capital cities to record a negative movement in dwelling values over the past twelve months, with values in Darwin down 7.6 per cent and Perth values falling by 5.6 per cent.

Dwelling values are falling four-point-seven percent over the first seven months of the year to take the cumulative decline since the market peaked in December 2014.

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28.3 percent transaction numbers have held firm over the past few months suggesting by demand maybe finding a floor. Perth city skyline at night

However, the average selling time remains high it’s 79 days indicating buyers can take the time and negotiate hard on prices.

Rental prices are also falling across perth with house rents down by nine point three percent of the year and unit rates are falling by seven point seven percent.

You may also be interested in reading:

Adelaide Housing Market Update [Video] – August 2016

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About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


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