House prices - Perth down 3.3% while Sydney goes up 20%

The Australian Bureau of Statistics has released the latest residential property price movements for Australian states up to the September quarter. Perth's house prices have dropped 2.4% in the September quarter compared to the previous June quarter which has contributed to a 3.3% decrease over the past 12 months.

The Australian average for the last 12 months has been an increase of 10.7% increase in value, which makes Perth's -3.3% look pretty bad. In fact, Perth dropped the most over the last 12 months , with Darwin losing 2% over the same period. In contrast, Sydney has increase 19.9% over 12 months, with Melbourne increasing at 9.9%. 

WA unemployment has also recently increased to 6.4% while the Australian unemployment rate as a whole has fallen 0.1% to 5.8%. Tough year ahead..