Perth’s home value index was revised higher in September, with the refreshed series reporting an 18.1% annual gain in housing values.
The strong annual capital gain comes as the monthly rate of growth consistently eases from a high in February of2.7% to 0.3% in September.
The slowing of the growth rate in housing values has occurred alongside a 10% reduction in the value of home lending since February this year, led by a 39% reduction in first home buyer lending.
Stock levels remain low, tracking almost -27% below the five-year average, but new listings added to the marketplace are now almost 7% above average as vendors take advantage of the strong selling conditions.
Across the sub-regions of Perth, the annual rate of growth has ranged from a 13.6% rise in values at Armadale to a 21.8% lift in values across the Cottesloe-Claremont region.
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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