Thursday, January 28, 2010

So how much for a Perth house now?

According to the Australian Property Monitors, the new median house price for Perth houses is $512,178 which is an increase of 3% in the past three months. Prices for units are now on average $385,001 which is quite telling of the strong property market especially on the lower end of the market. There is clearly a worsening shortage of houses and units in Perth leading to predictions for the rent to be up to $400/week in 2010. 

If you talk to your friends and relatives, it seems to be a common trend that people are upgrading their houses or investing in new property as the first home buyers go quiet. In a year that was clouded by the Global Financial Crisis, Churchlands recorded a 44% increase in median house prices going up from $360,000 to $525,000. For units, East Fremantle was the place to be. Units there increased by 37% to an average of $470,000. 

WAToday provided the following list of best performing house and unit markets by suburb. 

Churchlands, up 43.8 per cent

Guildford, 30.6 per cent

Attadale, 25.4 per cent

Nedlands, 25 per cent

Darlington, 23.5 per cent

East Fremantle, up 37.2 per cent

Shoalwater, 13.3 per cent

Bayswater, 12.6 per cent

Como, 12.5 per cent

Mosman Park, 10.8 per cent

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