Monday, June 30, 2008

Buying a house in Perth is getting cheaper..

It seems that the price for houses in Perth continues to fall.. most recently a report from RP Data and Rismark International shows Perth house prices dropped about 3 per cent on average during the first five months of the year, and dwelling values slid 1.2 per cent in the 12 months to May. Around the country, dwelling values rose 7.1 per cent in the same period, while house prices remained steady in the five months to May.

If you want a house in Perth, the median price is now just under $500k at $498,329, with Sydney ($570,803) and Canberra ($499,422) topping Perth. Both Sydney and Canberrra prices have risen nearly 2 per cent during the year.

Something may change come tomorrow as stamp duty is abolished on 30 June 2008. This may give rise to a rally in house prices in Perth.

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