If you have been listening to the real estate agents, you would be thinking that the house prices are about to go back up again. Unfortunately, the last 18 month has seen a 7.4% drop in house prices in Perth. We are the worst performing market in Australia.
Over six months, house prices have dropped 4.7%, and 7.4% in the last 12 months. The closest market to Perth is Darwin but they have only dropped 1.1%. How's the east coast doing? Sydney is up 11.3% and Melbourne is up 11.5% over the last year. The vacancy rate is sitting at 4.7%, also the worst in the country.
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