Friday, July 10, 2009

Perth houses up $15,000?

Preliminary data released today by the Real Estate Institute of Western Australia show that Perth's median sale price for homes grew by $15,000, or around 3.5 per cent, in the June quarter.

This growth rate brings Perth's median house price to around $445,000, on the revised median of $430,000 for March.

REIWA President Rob Druitt said the growth trend was being helped by a return to the market of the trade-up buyers.

"Much of the recovery in the median house price over the last six months can be attributed to increasing trade-up activity, and this is reflected in the distribution of sales tending towards more expensive properties," Mr Druitt said.

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