Perth median house price hit $704,000 in March The Perth property price boom momentum is still gathering pace. Over the past two weeks, Perth property prices increased by 0.6% and nearly 0.5%, respectively, meaning prices increased by more than 1% over the past fortnight. Property values have been rising at an average of 0.45% each…
Stock levels drop to new lows! Perth property prices continue to demonstrate strong growth leading into Christmas. This week, prices increased by just less than 0.5% and are now up nearly 14.5% for the year, as illustrated in the chart below. We can see the rate of growth increasing over the past three months. …
The southern suburbs of Perth have experienced notable growth, with property values rising by an average of 19.93% annually. This upward trend is anticipated to persist, especially with various infrastructural and community developments planned for the next five years, potentially attracting an additional 15,000 residents to the area. Residential Developments There will be new housing…
1. Stable Interest Rates Amid External Economic Pressures The Reserve Bank of Australia has opted to keep interest rates steady at 4.10% even in light of challenges including the downturn in China. This decision provides sellers with a stable economic backdrop amidst local high inflation. 2. Demand Outstripping Supply: A Seller’s Market A shortage of…
Weekly sales hit 1000+ for the 1st time since May This week, I had the honour of presenting my latest research on the effect of intergenerational wealth transfers on the probability of transitioning housing tenure status at the University of Melbourne. In layperson’s terms, this means how likely individuals are to shift between renting, mortgaging…
Real estate in Perth, especially its southern suburbs, has always held its ground as a robust asset class. Experts forecast that Perth property values are expected to grow 30% between 2023 to 2027. Personally, I’ve seen and heard of numerous parents stepping in to help their children break into the property market. Without this support, a…
The Top Public High Schools Near Canning Vale When it comes to settling down and planting roots, one of the most critical decisions for any family often revolves around education. As a local resident and a real estate consultant focused on Canning Vale and surrounding suburbs, I genuinely appreciate the concerns of parents when they’re…
Perth rental vacancies drop to new low for 2023 Property prices in Perth continue to respond to the current undersupply of housing, consistently high level of demand, population growth and robust employment, with prices rising by nearly 0.2% again this week. Our “Perth Property Price Growth 2023” chart reveals that prices are up almost 5%…
Inflation drops to 6% This week’s big economic news was the release of the June quarterly and monthly inflation results. The quarterly results have been largely considered an inflection point where the Reserve Bank of Australia (RBA) would keep raising interest rates if inflation did not drop significantly. Alternatively, if inflation were down, the RBA…
WA’s population growing at 2.3% annually This week we have a lot of important data to review, including the latest population and employment figures from the Australian Bureau of Statistics (ABS), which are major drivers of property prices. We always lament that it takes the Australian Bureau of Statistics (ABS) six months to release the…