Only a flood stopped Perth from being Worst real estate market

Perth median house prices has dropped another 1.9% over the last three months. If Brisbane had not experienced flooding in February, it probably would not have beaten Perth to worst performing city with a 3.3% drop in price. Perth houses according to RP Data now average $465,000. Only three capital cities boasted a rise in house prices with Canberra prices up 1.9%, followed by Sydney up 0.6%, and Melbourne up 0.1%.

Sunrise Investigates House Strike

Well it seems that the mass media are slowly picking up on the House Strike proposed by an organsiation called Prosper Australia and organised by GetUp. In this video, the spokesperson for Prosper Australia explains that the House Strike is already happening and that all this campaign really is, is give first homebuyers a voice to gather behind. We certainly are gathering, that's for sure because the most recent count on GetUp's website showed around 5,100 votes for this campaign.

Perth Property Last Week

Occasionally, we'll check out the REIWA snapshot of what happened in the property market last week in Perth.

Property Sales for Perth #

Last Week 998

4 weeks ago^ 1,055

Same week last year 1,273

# Contract Sales reported by REIWA members

^May have changed due to sales falling through

Top Selling Suburbs

North of the River

Scarborough 18

Perth 16

Ellenbrook 14

Morley 13

Yokine 13

South of the River

Canning Vale 20

Como 16

Byford 14

Thornlie 14

Willetton 12

Properties listed for Sale

Total* 17,988

Houses 11,519

Units 3,559

Land 2,910

*Listed on reiwa.com and other sources

Median Rent 3 months to Feb 2011

$380/wk 

Vacancy Factor

3.5%