Perth home value was down 0.6% in May, breaking a six-month streak where housing values avoided a fall.
Each of Perth’s sub-regions recorded a fall in home values over the month, ranging from a 1.7% drop in Mandurah to a virtually flat 0.1% fall across the most expensive Inner region of the city.
While housing values slipped lower over the month, activity recorded a solid rise, entirely recovering the April fall.
Improving commodity prices, low advertised stock levels and a trend towards rising interstate migration should help to support the Perth housing market over the medium to long term.
Rents bucked the weakening trend, rising 0.4% in May, pushing Perth`s gross rental yield to the highest level since October last year.
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National Housing Market Update [Video]
from Property UpdateProperty Update https://propertyupdate.com.au/perth-housing-market-monthly-update-video/
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