Perth dwelling values held firm in April, with both house and unit values remaining steady over the month.
Core Logic has released their newest housing market update for May 2018.
While the result remains soft, the Perth housing market is showing a variety of signals that it has moved through the bottom of its downturn.
Average selling time has reduced over the year, from 65 days down to 55 days, advertised stock levels are falling, down 4.3% cpmpared with the same time last year, and year on year transaction volumes are rising off a low base, up 3.3% over the past twelve month.
While it looks like conditions are leveling out, we are still seeing relatively weak demographic trends with regards to the interstate migration outflow.
With housing now very affordable and jobs growth improving we would expect the rate of interstate migration to improve over the coming year which will provide a furcher boost to housing demand.
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