Perth home values fell across the nation’s capital cities. Last February, Perth house values were dropped despite a pick –up of some capital cities. Softness in Perth market is the evident in rent which have fallen. Will Perth house price fall again?
According to Corelogic RP Data head of research on Tim Lawless, “The housing market has been losing momentum since July last year, when capital city dwelling values were increasing at the annual rate of 11.1%”.
Based on RP Data, annual pace house price growth across Australia’s capital cities rose 6.4% in March. But despite of the increase, there are 2 capital cities are trending lower and Perth is one of cities which has a lower home values. Perth and Canberra are the 2 cities fall the house values through February.
However, value growth is moderating in Australia’s capital cities. Moderation of the value growth in a development may comfort the Reserve Bank. This is likely a better development in the housing market.