Home News Perth market on the road to recovery

Perth market on the road to recovery

Font size :

Perth housing market is recovering.

The latest figures from Real Estate Institute of Western Australia shows strong price growth for Perth’s housing market, indicating that the capital city is currently tracking the road to recovery.

For the quarter ending in June, median home price in the Western Australia capital sat at $520,000, up 1% from the preceding quarter and up 2% of from the same period last year.

The improvement is also apparent in the unit market, which grew 4.99% to $419,500 over the same quarter.

Raine & Horne Cannington principal Tim Chant observed that there has been a surge of buyers looking for properties in the city, particularly in Cannington, Southern River and Victoria Park.

Cannington, specifically, is less than 15 kilometres south of the central business district. The accessibility of these areas is but one of many reasons why inquiries for properties in the area continues to balloon.

"There’s a lot of good news about the return to form of WA’s mining sector, and how this will positively influence the jobs market in Perth. More jobs are always good news for real estate values and yields," Chant said.

For Chant, if lenders eased lending criteria, prices in Perth would accelerate at a faster pace. Chant also noted of housing affordability as a main driver or prices.

"There is a decent bang for the buck in inner southern Perth, which illustrated by a magnificent family home at 10 Codrington Street, Southern River, which is selling for $650,000," he said.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

ANZ plans ramping up investor lending ANZ plans ramping up investor lending

The bank's home lending was almost flat due to the decline in investor loans Read more

Foreign buyers are ditching Australia's housing market Foreign buyers are ditching Australia's housing market But one state remains a bright spot for foreign property investment ... Read more

Going to the bank or meeting a broker? Going to the bank or meeting a broker? Both can help new home-owners in securing a loan, but which one will hand down the best deal? ... Read more

How to approach a 'honeymoon' rate How to approach a 'honeymoon' rate The first year of a home loan is considered to be the most stressful, but will a temporary discount help you get ahead? Or trip you up in the long-run? ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Feb 20, 2019
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords