Australian market sluggish and it tumbles. Property market is affected of what e so called “worries” due to slow down of economy. Median price has dropped last June quarter with more rental properties coming on the market. Dropping of the median price continues and it will be continued until the market stabilizes.

According to the Real Estate Institute of Western Australia, “Perth’s median house price has been steadily declining since it hit a peak of $551,500 in December 2014.”

“A leading property investor says Perth’s house prices will continue to fall & expects the median for the WA’s capital to crash below &500,000.

Median price is down and expected to decline for the coming months for we have more rental properties coming to the market & rent will go down. The high the number of listing and slowing rate of population growth is the reason behind why the median rent has also dropped. Australian market would hit confidence to encourage people that economy is one of the fastest growing.

http://www.watoday.com.au/wa-news/perths-median-house-price-to-drop-below-500000-property-club-warns-20150809-giv3t0.html


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Nowadays, Perth’s median house price continues to tumble and house prices fall considerably last June quarter. In Addition to these, properties were on the market for a long time before it sold compared last year with 58 days.  Having a slow economy and declining population growth are factors that affect the price fall. Will Perth market continue to slow down? Or still have hope for a recovery soon?

According to Senior Research Analyst at BIS Shrapnel, Angie Zigomanis, “I expect more downside to the Perth market; it’s too early to get back in. Perth’s recovery is looking like two to three years away from now.”

Based on the data, Perth’s median house price has fallen and this is the second highest in the country at $513,000.Expert believes that the recovery is a long way to wait and the downturn continues to worsen. Government is likely to be blamed of the scenario and the mining coming off affects the weak market. Due to downturn, people wanting to sell their homes with correct price. The overall median rent has now dropped with 4.4% vacancy rate. However, there are some areas are defying the downturn, when these areas potentially created,  it will be the way of creating new opportunities like employment, attracts more investors and other related excellent opportunities that helps the market recover.

http://www.yourinvestmentpropertymag.com.au/market-report/wa/wa-excerpt-from-the-2015-august-market-report-202353.aspx


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