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Perth’s median house value has risen by 0.9 per cent in July to a staggering $869,689, according to the latest property report from Coality.
It’s nothing new – property prices in Perth are still climbing. Credit: Ross Swanborough
That’s nearly double the price from five years ago.
Every capital city recorded a rise in dwelling values through the month – led by Darwin with a solid 2.2 per cent rise, followed by Perth in second place.
Nationally dwelling values rose by 0.6 per cent on average.
“The mid-sized capitals are once again standing out, especially Perth, where the monthly pace of gains has accelerated to the fastest rate of growth since September last year,” Cotality’s research director Tim Lawless said.
“At the national level, the pace of growth in housing values is no longer accelerating.
“Rather, we have seen growth rates holding a little above half a per cent from month to month since May as the opposing influence of low supply, falling interest rates and rising confidence run up against affordability constraints and lingering uncertainty.”
Despite the acceleration of price growth, Perth still remains more affordable than many eastern states capitals with Sydney’s median house price now at $1.5 million.
You can read more about the latest report here.
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