Friday, February 26, 2010

Perth worst city in January property values

Last month, when all the other cities went up, Perth median house prices dropped, albeit marginally. The median house price in Perth has dropped 0.6% in January 2010 in what is probably a small blip in the housing boom. Other cities did better with various increases in median property values.

  • Darwin increased by 4.6% ($475,000)
  • Melbourne 4.3% ($455,000) 
  • Canberra 4.3% ($489,250)
  • Brisbane 1.8% ($440,000)
  • Sydney 1.7% ($494,500)
  • Adelaide 3.2% ($379,600)
Rental yield which is a percentage of the property value was also down for Perth, recording the lowest unit yield rate of all cities in Australia at 4.2% and the equal lowest yield rate for houses at 3.8%. Darwin is the place to be if you are looking for a good rental yield, returning an average of 5.7% for houses and 5.9% for units. What are your thoughts? 

1 comment:

Jake said...

glad it dropped a bit! Some of the house prices are silly for what they are. Perth City is terrible for culture and nightlife, if the work dries up people will be out of here pretty quick, unless your into the beach life style.

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