There has been some improvement in the real estate market in the eastern states but Perth continues the downward slide. Perth prices dropped 0.8% last month, contributing to the 5.9% drop for the last 12 months and a furthering the 20.6% slide since 2014.
Across Australia, house prices on average went up 0.9% with much of that coming from both Sydney and Melbourne who both increased value by 1.7% last month as a result of the drop in interest rates. This could continue with the RBA expected to decrease interest rates again.
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