Median house prices in Perth are at their highest level ever. Last month, the median house price for Perth was $510,000 which is $5,000 more than the previous peak in 2010. According to this article, most sales were between $600,000 to $700,000 with a good number of houses being sold just under $500,000.
Some of the areas mentioned in the article which had increased sales activity have been areas which first home buyers have been targeting all year such as Gosnells, Armadale, Serpentine-Jarrahdale, Rockingham, Kwinana and Wanneroo. The suburbs just outside of the CBD have faced a shortage of listings, forcing up prices. There have also been reports that real estate agents have been offering $30 Coles vouchers to homeowners that were willing to undergo a valuation on their property.
So where do you stand in the current rush for land? Are you looking to buy? Or looking to sell?
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