House prices in Perth have risen by one per cent in March, above the national increase of 0.7 per cent, as home values in Melbourne and Sydney dropped.
The Bankwest Curtin Economics Centre's new ‘Behind the Line' report provides the latest examination of poverty and disadvantage in Australia and offers evidence that rising housing costs are pushing many families into serious financial hardship.
WA's strong residential property market is expected to continue, with house prices predicted to increase a further 10 per cent into 2022, Real Estate of Institute Western Australia predicts.
Real Estate Institute of WA president Damian Collins says construction prices in WA have reached their peak and will plateau into 2022, but some builders are expecting further cost rises.
The latest housing data has demonstrated the impact the resurgence in mining activity has had on home values across Western Australia's resource-rich regional centres.
More than two-thirds of suburbs in the Perth metropolitan area experienced house sale price growth over the past quarter, according to the latest data from the state's peak real estate body.
Two years and 12 design iterations later, Momentum Wealth has been given the green light to build a $4.75m development at the site of northern beaches cafe Yelo.
Australia has recorded its highest annual rate of house price growth since 2004, however Perth has continued to underperform, according to the latest data from CoreLogic.
ASX-listed Finbar Group has released some of its apartment investment stock in Karratha to the market, off the back of a strong regional property market.
ANALYSIS: The WA economy is the envy of the nation yet the residential property market in Perth is the weakest in the country. There appear to be two key reasons.
Perth recorded another increase in house prices during May, but failed to keep pace with the growth recorded in Australia's other major housing markets.
The Real Estate Institute of Western Australia has revised its predictions for house price growth in 2021, forecasting a 15 per cent increase by the end of this year.
Perth house prices rose 1.8 per cent in March, lower than almost all capitals, while selling times are the fastest since 2006, according to recent property data.
The couple behind a luxury tourism company and former pro surfer Taj Burrow are among the buyers recently snapping up property in the state's south west.