The Perth housing market has shown a distinct softening trend over recent months, with a monthly pace of home value appreciation easing from a recent peak of 1.8% in March earlier this year, to just 0.2% in June.
The slowdown is evident across both the house and the unit market, and is relatively uniform across the upper and lower quartile of the market, implying a broad-based slowdown in the rate of appreciation.
The easing in capital gains comes as housing market activity remains strong, with annual home sales up almost 60% compared with the previous financial year.
A few factors that help to explain the slowdown are the sales to listing ratio and trends in housing credit.
Over the June quarter, the sales to new listings ratio were recorded at 1.1, the lowest of any capital city, implying buyer demand and fresh stock levels were more evenly balanced than the other capitals.
Home lending trends have also eased across WA, with the value of lending falling over two or the past three months.
You may also want to read:
National Housing Market Update [Video]
from Property UpdateProperty Update https://propertyupdate.com.au/perth-housing-market-monthly-update-video/
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