Perth’s House Prices Soar To New Heights
It's a seller's market
Perth house prices continue to soar with the latest Reiwa figures show growth for a tenth consecutive month.
The figures show that for the month of May the median price reached $510,000 with 81 suburbs recording house sale price growth
Reiwa President Damian Collins expects the rise to continue.
“It just continues to trend we’ve seen, and we still expect pretty solid growth for the second half of 2021 as well. Thats a solid improvement over where we it was this time last year, and we expect it’ll likely hit 545,000 by the end of the year, so still solid growth ahead for the balance of 2021.”
Collins said that the figures are welcomed news by Perth homeowners wanting to sell, but it brings difficulties for first home buyers.
“I’d certainly say to buyers if you do see a property you like, then certainly put your best foot forward, it’s a competitive market and certainly with prices continuing to rise I would expect that buyers will still be active for a period of time.”
The rate in which Perth properties are selling, is the fastest rate in 15 years.
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