Perth Median House Price Heading North

Perth Median House Price Heading North 01/02/2017

Just as we predicted here at RRE, the latest REIWA (Real Estate Institute of WA) statistics confirm a rise in the median house price over the December 2016 quarter.
REIWA President Hayden Groves stated in his latest report “This is the second month in a  row that we’ve seen an increase in the median house price, which is a welcome trend and suggests that the trade up sector of the market is recovering. Since the second half of 2016, we’ve seen prices across the metro area start to lift on a monthly basis. If you’re a buyer waiting for the ‘bottom of the market’, you would be wise to make a buying decision soon should this trend continue”.
Mr Groves went on to say that the number of listings in December 2016 was significantly lower than in December 2015.
There is no question that the increase in the median house price together with a decline in the number of available properties is a clear indication that the Perth real estate market has not only turned, it’s heading north at a strong rate.
Further affirming this is the strongest buyer activity we have experienced here at RRE over the holiday season since 2007!

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