The Perth housing market downturn eased off a little in May, however, dwelling values are still trending lower, down 1% over the month and 8.8% lower over the past twelve months.
Core Logic has released their newest housing market update for June 2018.
The ongoing weakness in the housing market can be attributed to mix of weak economic and demographic conditions overlaid with a tight credit environment.
Perth values are now amongst the most affordable amongst the capital cities with a median dwelling value of $436, 000 which is only $4,500 higher than Adelaide’s median dwelling value.
As infrastructure spending picks up and commodity prices remain high, we could see local economic conditions start to improve which is the key missing ingredient to a housing market recovery.
You may also want to read:
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.