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.
YOU MAY ALSO BE INTERESTED IN READING:
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.