House prices in Perth are up 3% in the last quarter of 2012, with the median house price now sitting at $495,000 according to the Real Estate Institute of WA. Of particular interest was the 57% increase in sales in the western suburbs which, in recent times, has been quite slow. This is because most of the western suburbs are in the $600,000+ category.
17,171 first home buyers grants were paid out in 2012, which is a 28% increase on the previous year - a sign that the first home buyers are back in the market. There were more first home buyers as a percentage of all owner occupier dwelling finance than the 10 year average of 27% with 33% representing the new generation of home owners.
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