Modest June price drop for Perth
02 July 2015 : Fresh data from reiwa.com show that Perth’s median house price dropped 1.3 per cent for the month of June.
President of the Real Estate Institute of Western Australia, David Airey, said that when this fall was looked at in the context of the full June quarter, the drop was just under 1 per cent for the last three months.
“A drop of around $5,000 from the March quarter puts the median house price at $545,000.
“This highlights how very stable the median price has been over the last year, given that the median price was exactly the same in the June quarter 2014,” Mr Airey said.
Sales volumes in the June quarter were down by 2 per cent on March and 8 per cent below the same period last year.
Mr Airey said that while the number of properties on the market was above average, the recent and rapid increase in listings seems to have plateaued.
“The number of properties on the market looks to have stabilised and this means that we are likely to see a continuation of the current, relatively steady market.
“Sales are quite buoyant in some areas, typically in lower price ranges, but it’s a noticeably slower market in areas with higher priced properties.
“Overall there's plenty of choice for buyers,” Mr Airey said.
