Corelogic shows another drop for Perth house prices

Corelogic has revealed today that the Perth house prices have dropped 0.4% in April, a smaller drop than previous months but still a drop nonetheless. From the peak, Perth has experienced an 18.4% drop which follows the Australia wide trend down. With an election brewing and the threat of negative gearing being implemented by an incoming Labor government, there is a general opinion around that the house prices are not going up any time soon. However, there were recently some reports of suburbs especially in the more expensive areas still going up. Mt Pleasant for example has increased in value by 26% over the last year.