Wednesday, September 21, 2016

ABS - Perth is back to 2013 house prices

If you bought a house before 2013, chances are that your house has not appreciated any more in the last three years according to the Australian Bureau of Statistics. Over the past year, house prices in Perth have fallen by 4.8% while the national trend in the last three months has been to increase by 2%. It is the largest annual rate of decline in Perth since mid-2011 and prices now are at the same level as in 2013. 2014 saw Perth prices peak but house prices have dropped by almost 6% since then. In the last five years, the RBA cash rate has dropped from 4.75% to 1.5% today. So while interest rates have never been so good, house prices seem stagnant, to falling.

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