The state's house prices continue to grow at a faster rate than other jurisdictions, with another 2 per cent jump last month and 22 per cent rise in the 12 months to May 31.
The capital continues to outpace the rest of Australia, posting a 1.8 per cent increase in home values in February and an 18 per cent rise in the past 12 months.
The Reserve Bank of Australia has lifted the nation’s official cash rate to 4.1 per cent – a 25 basis point jump which takes it above four per cent for the first time since April 2012.
Perth home values continue to rise in the past month with the median house price recorded as more than $570,000, according to recent reports by property groups.
Perth home values have risen in the past month, although property groups CoreLogic and PropTrack have released different findings in their March reports.
The median dwelling value of every capital city in Australia fell during the first month of 2023, however Perth held its own with one of the smallest declines.
Another residential research report has predicted challenging rental market conditions in Perth with low supply and listings recorded in the recent quarter.