Wednesday, October 15, 2008

$426,000 is your average Perth Home now..

Nine months later... the Perth housing market has dropped 10% since December last year. The average house is now only $426k. Properties greater than $500k dropped 3% in the last quarter and it looks like the bleeding continues for the WA housing market.

Some factors that may show a change in fortunes in this current quarter:
  • Increased first home buyer grants by the Federal government yesterday. $14k for those looking for an existing home and $21k kickstart for those buying a new place.
  • No stamp duty for first home buyers up to $500k house in WA
  • Drop in RBA interest rate by 1% only one week ago.
  • Continuing healthy WA jobs market
These factors may affect the demand for housing in the coming month. If you have come across this blog in your search for a home in Perth, leave a comment. Whether you are a first homebuyer or UK tourist, or a Singaporean taking advantage of our low dollar... we'd like to hear from you.

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