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Perth Housing Market Update [Video] – February 2017

For Perth and Darwin, the rise in dwelling values over the rolling quarter may hint at a bottoming of the downturn, evident since 2014.

Since dwelling values peaked in these markets they have reduced by a cumulative 7.7% in Perth and 7.5% in Darwin through to January 2017.

Perth dwelling values were 2.1% higher over the past three months and Darwin values were up 1.8%.

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Buyers still have a great deal of leverage in these markets, with listing numbers remaining high, long selling times and high rates of discounting.Perth city skyline at night

However, in another indication that conditions may be moving through the bottom of the cycle, transaction volumes moved higher across both markets prior to the seasonal downturn in December and January, whilst the average selling time reduced from previously higher levels.

Metadata flowing across CoreLogic valuation platforms is showing more than 40% of off-the-plan settlement valuations are coming in under contract price across the Melbourne, Brisbane and Perth unit sectors.

YOU MAY ALSO BE INTERESTED IN READING:

Adelaide Housing Market Update [Video] – February 2017



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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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