According to REIWA’s David Airey, “There has been more of a demand of properties and less supply in these particular suburbs and this is what is causing the houses value to be raised quite significantly.”

In Western Australia particularly in Perth, Perth house prices increased 3.5% for a median price of $512,500.  Consumer confidence is heading the right direction that dwells the buying and selling conditions. Due to expected growth of GDP, Housing Industry attributed figures to housing building boom.

 

Property market become softens due to low demand and has too much supply. But still the growth continues due to reasonable rate that’s leads positive outlook. New home building put in a strong performance and helps the Property market continues to goes up. Optimistic discourse dominated the growth and it promptly change because of low and suitable rates.

http://aubis.com.au/news/building-construction/perth-property-rise/#


Tags: house prices

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“The Bank for International Settlements (BIS) released residential price statistics for most developed countries around the world- (Australians struggle with world’s second largest housing bubble.)”

 

Australia’s property market boom continues unquenched. Property price rise, housing costs rises and falling rates of housing affordability, the data shows. House and rental price instability has significant consequences for the broader economy because it generally reinforces economic volatility. All Australian households were experiencing housing stress because house price and rent increases. Therefore, we need to have better development strategies in order to have satisfying housing needs and well planned management on how to sustain the market.

http://www.whocrashedtheeconomy.com.au/blog/category/australian-housing/


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According to The Real Estate Institute of Western Australia (REIWA) “Despite July property data including a further decrease in median house prices, the rental market has held firm.“ It shows that there is no movement for August. The median price was steady at $540,000 and the median rent is unchanged at $450 per week. Despite of the unchanged Perth’s rental market, the sales turnover has slumped, however there is always a seasonal dip especially during spring weather.

“Reported sales continued to trend downwards and were 10% down on June and similar to April, when there was a notable seasonal dip in sales over the Easter and ANZAC Day holiday period, Mr. Airey said.

 

There is an increase of the number of properties on the market by 1% for August and rental market was also showing signs of stabilization. Some of the suburbs showing an increase despite of the high vacancy rate but still the market remain strong. We cannot predict the flow of the market and the house price will continue to increase, the market softens but if the house prices decrease, the market may uplift.

http://www.rpmonline.com.au/news/12707-perth-s-rental-market-remains-steady-as-house-prices-drops


Tags: Perth Market

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According to the Domain Group’s Spring State of the Market Report, “Prices growth in Perth is set to gradually resume over the remainder of 2014 and the city’s median house price is forecast to increase by between 3 to 5% over the 2014-15 financial year.”

From previous months, Perth’s property market was running low and relatively subdued but predicting the market to be the best spring. There is no doubt that there is a real movement in the now. As the record shows that Perth has been strong and consistent prices growth over two years. Definitely, there’s no doubt that there is real movement in the market now.

 

First homebuyers are back to the market and it is also strong. The strong investor activity makes the market more competitive and driven the house price sensitive. Perth property prices rose 1.7% and expected to continue.

http://medianet.com.au/releases/release-details?id=809520


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