Friday, May 15, 2009

Who was to be a millionaire.. suburb

Seven suburbs have been demoted from the millionaires list, their median prices dropping below the A-class threshold. For the year to February 2009, WA recorded four of the largest falls in median house prices with homes in Ardross losing over 26 per cent of their value to record a price of $772,500, down from $1.05 million. South Fremantle went down 24.8 per cent to a median price of $797,500, Cottesloe lost 23.5 per cent to $785,000 and home values in Rossmoyne dropped 20.6 per cent to $815,000. 

Median house prices in Shelley lost 18.9 per cent to $835,000, Sorrento suffered a 17.9 per cent fall to $870,000 and Shenton Park fell 11.2 per cent to $945,500 as normality starts to sink in with some of the boom time suburbs in Perth. 

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