According the CBRE’s first-quarter WA Market view report, “There was a 13% increase in the volume of Perth Residential sales in the March Quarter, with first-home buyers and investors returning to the market.”
According the firm’s associate Director of Global Research and Consulting Sam Reilly, CBRE recorded 5,663 sales in Perth metropolitan area over the first three months of the year, compared with the 5,268 in the previous quarter and a noticeable contrast to conditions in the prior 12 to 18 months, when sentiment was low.”
Perth inner-city market has been particularly strong because of the mining resources and investors demand on the rise. Perth house prices increased by 3.9% over the quarter to a median of $487,500 and we cannot tell that it’s a full market recovery. These are some indications that we are on the way of recovery.