How much is the average price of a house in Perth?
The average house price in Perth rose 16.7% in the past 12 months to $676,000.
Australia’s housing upswing continued through the first month of 2024 with CoreLogic’s National Home Value Index (HVI) rising 0.4% in January 2024. Up from the 0.3% increases seen in November and December, this market the 12th straight month of value rises.
Beneath the headline result, housing prices Australia wide remain diverse. Three Australian capital cities recorded a subtle decline over the month (Melbourne -0.1%, Hobart -0.7% and Canberra -0.2%), while, Perth, Adelaide and Brisbane values continued to rise at the monthly rate of 1% or more.
CoreLogic’s research director, Tim Lawless, identified Perth as a stand-out among the Australian capital cities for a persistently rapid rate of capital gains. “Perth home house prices rose a further 1.6% in January, on par with the city’s growth trend in November and December and only slightly lower than the recent high of 1.8% recorded in October. The Western Australian capital continues to see housing demand outweigh supply, helping to push values 16.7% higher over the past 12 months. Despite that, housing prices remain relatively affordable compared with most capital cities, with the median dwelling value sitting just under $676,000.”
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House prices author: David Snell, property buyer’s agent Perth WA.
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