We've been seeing articles saying that now is a good time to buy in Perth. In that case, it just got better. In the June quarter, Perth has continued to see a drop in the median house price. According to Domain, the average house price is now $555,788 which is a 1.8% drop since April 2017 and closing in on a five year low. For units, the news is slightly better with a 1.1% increase in median price to $377,823. If you are a renter, the news has been very good over the past year. The median rent is now at $300 per week which is 10% less than a year ago in Perth.
Other markets around Australia fared better. In Sydney where the median house price is already twice the Perth median house price at $1,178,417, they experienced a 1.1% increase in the last three months, 12% over the year. Melbourne increased by 3.5% in three months and 15% over the year.
