It's been six years since Perth has experienced the house shortage that we are now experiencing, with the number of properties available for sale in Perth dropping 50% in the last 12 months to under 7,000. Actually 5,390 houses and 1,427 units which is a staggering statistic considering that about 1,000 migrants move to WA every week. The Real Estate Institute of WA is calling this a crisis which could cause house prices to suddenly jump up in the coming months.
The median house price has increased in the past three months by 2.8% to a record high of $510,000 which surpasses the prices three years ago. Will people start using the b word again?
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