Perth housing market update [video]

Key takeaways

In November: Perth dwelling values rose by 1.1%

Over the quarter: Dwelling values increased by 3.0%

Over the past year: Dwelling values increased by 21.0%

Perth dwelling values are currently at a record high

Perth is continuing  to lead the capital cities for the rate of growth in housing values, with the market up another 1.1% in October, adding approximately $8,460 to the median dwelling value over the month alone.

Although the pace of growth remains strong, the quarterly trend has more than halved since the June quarter, from 6.7% to 3% over the three months ending November.

Perth house prices graph

Source: CoreLogic

Slower growth has been accompanied by a rise in listings through spring, with total advertised supply up 33% since the end of winter. The largest increase in listings across the capitals through spring, albeit from an extremely low base.

You may also want to read: National Housing Market Update

About Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au