Perth home prices fell 1.2 per cent in the three months to June, official figures released today have shown, while the average price across Australia's capital cities rose 2 per cent.
More than 80 per cent of houses sold in Perth in the year to the end of June went for $400,000 or more, the latest evidence of the difficulties faced by low income earners seeking to own a home.
Liquidators have been appointed to Crawford Property Group, with the firm becoming the second Pilbara-focused real estate player to run into strife in 2016.
Perth's residential property market may be enveloped in a cloud of doom and gloom, but the Real Estate Institute of Western Australia has released a list of eight suburbs across the city that recor
Rental rates for residential properties in Perth have fallen by 23 per cent over the past three years, the largest fall for any major capital city since World War II, while the vacancy rate has hit a new high.
WESTERN Australian property players are ramping up the rhetoric on negative gearing, warning that investors in this state would be among the hardest hit if tax breaks for making a loss on an invest
Tipping future residential property prices is tricky, but in Western Australia there is a potential technique that is so obvious it's a surprise no-one has used it before – linking property to the state's biggest industry, resources.
Western Australia's peak business group has welcomed the state government's budget, but other business groups believed more could have been done for their respective sectors.
Perth's median house price remained stable at $535,000 for the three months to March, according to the Real Estate Institute of Western Australia, while reported sales activity in the metro region jumped 15 per cent.
Perth's eight cheapest suburbs for property rentals have been revealed, and one of the most affordable is in the western suburbs, according to the latest data from the Real Estate Institute of Western Australia.
The Real Estate Institute of Western Australia has named the top 10 Perth suburbs that have recorded the fastest average selling days for the year to February.
Anne Arnold has been appointed as the new chairwoman of Heritage Council of WA. Ms Arnold has been a member of the Council for more than eight years. She is also a director at Landgate.
The local property market is beginning to show signs of stability as the rental market gains strength, according to the latest Real Estate Institute of Western Australia figures.
The Shire of Kalamunda has moved to facilitate more infill development around transport infrastructure, but its proposed planning changes are restrictive and won't achieve the desired results, according to a prominent industry player.
Perth residential property prices fell 2.4 per cent in the September quarter, as the Real Estate Institute of Western Australia tipped eight suburbs to watch next year.
SPECIAL REPORT: Developers say Perth's apartment market is the most challenging it's ever been, but that hasn't stopped a groundswell of interest in big projects. Click through to see our listing of Perth's 30 largest developments.
Interest in apartments from buyers and renters is again on the rise, in contrast to falling fortunes elsewhere in the residential market, according to a pair of prominent property players.
Perth's falling median house price may be causing doom and gloom for property owners, but two top agents say current market conditions represent a perfect time for potential buyers either to get a foothold on the property market or upgrade their position.
The weak state of the residential property market in Perth has been highlighted by new data from the Real Estate Institute of WA showing a further decline in the median house price and a sharp jump in the number of vacant rental properties.
Residential rents in Perth are now 13 per cent lower than the peak of 18 months ago, with the median price to lease a property slipping to $410 per week.
Perth's median house price is either flat or on the nose, according to the latest analyses by market watchers CoreLogic RP Data and the Real Estate Institute of WA.
Vacancies in Perth apartments remain under the wider vacancy rate for houses in the metropolitan area, despite economic headwinds and record levels of new supply.
Vacancies are rising rapidly in the residential leasing market, while at the same time median rents are falling; but that's just the market returning to normal from its recent highs, according to a prominent local property player.
The second measure of Perth's residential real estate market in as many days has shown a similar result, with the Real Estate Institute of WA (Reiwa) reporting a 1.3 per cent fall, or $5,000, in median prices in June.
Perth median house prices remained largely flat in June, recording a 0.4 per cent fall, taking the yearly reduction to 0.9 per cent, according to market analysts CoreLogic RP Data.
