Snapshot; The Local Market
The Perth median house price fell by 0.9 per cent over the June quarter to $605,089, while Perth unit prices have dropped 2.1 per cent to $405,417. Over the last 12 months, Perth’s median house price has fallen by 1.4 per cent, while unit prices are down by 2.1 per cent. Modest buyer activity and weakening house price growth can be expected for the remainder of 2015. The market is reflective of the weakening local economy over the past year, with the resource sector declining and unemployment rising sharply. The key to restored confidence in the Perth housing market is an improved economic performance, early signs of which are now emerging.