The Perth housing market has now posted two months in a row where dwelling values haven’t fallen, and the annual trend has seen the rate of decline more than halved from 4.9% mid last year to 2.5% over the most recent 12 month period.
The improving trend is evident across both the detached housing sector and the units sector, however it’s the unit market that’s showing a better performance. Unit values end 0.7% higher over the past three months and they’re down only 1.2% over the past year.
House values remained a negative growth territory over the quarter, they’ve shown a larger 2.9 percent annual fall. Higher rates of detached housing supply in the outskirts of the Perth metro area are likely part of the reason for the softer performance in houses relative to units.
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