Theresa Worrell: Perth Housing Market Update [video]

The Perth housing market downturn eased off a little in May, however, dwelling values are still trending lower, down 1% over the month and 8.8% lower over the past twelve months.

Core Logic has released their newest housing market update for June 2018.

The ongoing weakness in the housing market can be attributed to mix of weak economic and demographic conditions overlaid with a tight credit environment.

Perth values are now amongst the most affordable amongst the capital cities with a median dwelling value of $436, 000 which is only $4,500 higher than Adelaide’s median dwelling value.

As infrastructure spending picks up and commodity prices remain high, we could see local economic conditions start to improve which is the key missing ingredient to a housing market recovery.