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The Perth housing market is just over a year into a down phase
after housing market conditions were exceptionally strong during
the mining related infrastructure boom. With population growth
moderating and economic conditions softening across the state,
buyer demand has also eased off, which has resulted in fewer
transactions over the past 12 months.
Rental markets have also weakened with Perth rents falling by just
over 6% during the past year. As the market transitions in favour
of buyers, stock levels have risen providing more choice and less
urgency in the decision-making process for buyers.
WESTERN AUSTRALIA
Buyer demand eases in Perth after exceptional highs
Perth’s performance over time
Perth’s best performers
Perth Median Price
Houses
Units
Dwellings
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
JAN-05
JUL-05
JAN-06
JUL-06
JAN-07
JUL-07
JAN-08
JUL-08
JAN-09
JUL-09
JAN-10
JUL-10
JAN-11
JUL-11
JAN-12
JUL-12
JAN-13
JUL-13
JAN-14
JUL-14
JAN-15
JUL-15
Houses
Units
Median Price
$520,000
$419,100
Quarterly change
-0.8%
0.5%
12 months change
-0.7%
-4.0%
5 year total change
4.0%
2.1%
10 year total change
61.5%
57.3%
Rank
Suburb
$
Affordable
1
BELLEVUE
$395,000
33 7.3%
2
KELMSCOTT
$390,000
228 6.8%
3
MADDINGTON
$386,000
194 3.8%
$$
Mid range
1
GREENMOUNT
$525,000
49 10.5%
2
KIARA
$510,000
27 7.9%
3
BULLSBROOK
$512,750
73 4.6%
$$$
Prestige
1
WATERFORD
$1,135,000
26 14.4%
2
MOUNT CLAREMONT $1,390,000
82 8.6%
3
EAST PERTH
$1,230,000
19 8.4%
Rank
Suburb
$
Affordable
1
ARMADALE
$311,750
75 10.9%
2
SHOALWATER
$290,000
35 5.5%
3
ORELIA
$205,000
20 4.1%
$$
Mid range
1
RIVERVALE
$428,000
126 7.7%
2
MOSMAN PARK
$425,000
68 6.3%
3
SORRENTO
$445,000
25 5.0%
$$$
Prestige
1
NORTH COOGEE
$662,000
47 32.4%
2
CRAWLEY
$770,000
53 23.2%
3
BURSWOOD
$800,000
49 20.7%
Rolling Median Price (12 months)
Number sold (12 months)
12 month change in median price
Affordable
= suburbs below 25th percentile
Mid range
= suburbs between 25th and 75th percentile
Prestige
= suburbs above 75th percentile
20