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. …
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…
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…
RBA increases cash rate to 3.85% This week’s big news was the Reserve Bank of Australia’s (RBA) decision to increase the cash rate from 3.6% to 3.85%. The following chart clearly shows that this cycle of interest rate rises is the most significant since the early 1990s. The RBA has got itself in a real…
RBA may pause in April This week we will catch up on the latest real estate figures, review the latest quarterly economic consumption data and compare the effect of interest rate rises between 1990 and 2023. Demand for Perth property remains strong, with REIWA reporting 1,123 sales two weeks ago and 871 sales last week.…
Interest rates increase 0.25% This week’s big (unsurprising) news was the Reserve Bank of Australia’s (RBA) decision to raise the cash rate again by 0.25% to 3.35%. This increase makes the current cycle of nine increases the most severe since monetary policy brought inflation into the RBA’s 2-3% target range in 1991. The following chart…
Perth Christmas sales & listing results Perth weekly property sales rebounded from the typically quiet Christmas period, with sales jumping from 203 transactions to 456. This year’s Christmas period trend aligns with the previous three years, as the Perth Christmas Sales chart illustrates, and the sales volume is not remarkably lower than last year, even…