Western Australia's peak residential real estate body is urging the state government to provide a stimulus boost for first-time buyers of established homes to address oversupply of properties across the metropolitan area.
Perth home values dipped again in February, with increasing activity in transactions under $500,000 putting downwards pressure on the city's median price.
Seven out of the 10 Perth suburbs to have achieved the largest median house price increase in 2018 have at least a 37 per cent higher sale price than the overall Perth median of $505,000, according to the latest Reiwa data.
Access to credit will remain the most significant barrier to house price growth in 2018, in Perth and across the nation, according to market analysts CoreLogic.
The nation's banking regulator says it will remove a cap on interest-only loans for residential property, on the grounds that the measure had reached its objective of curbing higher-risk lending practices.
CoreLogic has revealed a decline in Perth house prices for November, which is at odds with the Real Estate Institute of Western Australia's data suggesting prices increased last month.
Perth house prices have risen for the second straight month, according to new data from the Real Estate Institute of Western Australia, which released its monthly figures today ahead of market analyst CoreLogic.
Perth house prices and sales volumes are unlikely to improve significantly next year but rental rates could increase, according to the Real Estate Institute of Western Australia.
Two sets of data out today have sent mixed signals about the Perth property market, with Reiwa figures revealing a lift in house prices in October, while Corelogic says they fell for the month.
Despite a fall in Perth's median house price in the September quarter, nearly 60 suburbs bucked the trend to record a price increase, according to the latest data from Real Estate Institute of Western Australia.
The McGowan government will introduce its levy on foreign buyers of residential property after the WA Greens and One Nation parties supported the plan.
Reiwa has recently launched the reiwa.com app, which allows users to search for properties, find and compare local Reiwa agents, view home opens and shortlist their favourite properties and searches.
The Perth residential rental market continues to show signs of improvement, with the vacancy rate falling to 4.5 per cent in August, according to the Real Estate Institute of Western Australia.
Perth house prices declined slightly last month, but are still up 1.1 per cent since February, according to the latest data from the Real Estate Institute of Western Australia.
A 1.7-hectare site combining 12 land holdings near Canning Bridge in Applecross has come onto the market, representing one of the most significant masterplan development opportunities in Perth.
The Real Estate Institute of Western Australia has signed a five-year partnership agreement with online advertising portal HumblAbode, strengthening its reach in the local market.
Land prices in Perth increased by 3.7 per cent in the June quarter, the latest sign of positive movement in the property sector, according to the Urban Development Institute of Australia WA.
Property analyst BIS Oxford Economics believes there is limited upside for residential property in Perth and says the market has yet to bottom out, contrary to the widely held view that the worst is over for Perth homeowners.
A slight improvement in economic conditions helped regional Western Australia's regional median house price improve in the previous quarter, Real Estate Institute of Western Australia president Hayden Groves says.
The Real Estate Institute of Western Australia has revealed 10 Perth suburbs where properties are selling faster now than during the mining boom, with four of the top 10 in the western suburbs.
Property industry lobby groups say WA Labor's plan to introduce a 4 per cent tax on foreign buyers of residential property if it wins the March 11 state election is a retrograde step for the state'
Perth's median house price is on the verge of upswing in 2017, as a stabilising labour market and surging commodity prices drive marked improvements in consumer sentiment.
Disruptive technologies continue to gain traction in the property market, with more than 400 Western Australian agents expected to use online advertising portal HumblAbode by the middle of this year, while a Perth-based firm is taking a software platform designed to simplify back-office transactions to the ASX.
The worst could soon be over for Perth's troubled housing market, with new data hinting at a bottoming of the downturn while warning that any recovery will likely be slow.
SPECIAL REPORT: Last year couldn't end soon enough for the state's land developers, who are banking on a break from adverse conditions. Click through to see our BNiQ list of land developers.
Perth is now the only capital to record a year-on-year fall in house prices, and was the weakest-performing city in the three months to November, according to new data.
Real Estate Institute of Western Australia boss Hayden Groves says residential leasing activity continues to improve across the Perth metro area, as the central sub-region's median rent falls to $380 per week.
Prices in one of Perth's newest residential enclaves, The Springs at Rivervale, are holding value better than apartments across the wider Perth metropolitan area, despite concerns of excess supply restraining capital growth.
Fresh initiatives are emerging in the world of online property advertising, as the sector embraces technology to effectively market residential real estate.
Real Estate Institute of Western Australia members reported an increase in weekly sales to 672. The overall 9 per cent increase in sales over the week is attributed to an 18 per cent increase in sales for houses and 8 per cent increase in sales for units. However, sales for vacant land decreased over the week by 39 per cent.
A former York real estate agent has lost his licence and his son is facing further penalties after the State Administrative Tribunal upheld allegations they pocketed $6 million from deceitful and misleading land deals.
