Slowing Perth market still has room to move

By Stefanie Garber

While PerthPerth, TAS Perth, WA may have passed the peak of its price growth, investors may still find opportunities in the market, a leading property researcher has claimed.

According to data from Australian Property Monitors, Perth median house prices were flat over the March quarter, while unit results fell by 1.4 per cent.

Over the year as a whole, however, Perth growth hit 8.4 per cent for houses and 5.4 per cent for units.

Andrew Wilson from Australian Property Monitors said the market may be losing momentum.

“I would expect we've seen a short-term surge that is now moderating,” he said.

Nonetheless, he believes the city will continue to deliver solid returns into the coming period.

“I would expect price growth to continue in Perth, though certainly not at the rate we've had over the past year,” he said.

“I think it will be closer to five per cent, depending of course on the number of sales and sales activity in particular suburbs.”

He believes the best investments lie in the mid-range of the market.

“I still think there is good buying opportunity between $400,000 and $500,000 within a reasonable proximity of the middle ring suburbs of Perth,” he said.

“Taking a medium to long-term view, I think that most suburbs in Perth have good prospects and the closer you are to the CBD, the better.”

Ultimately, he suggested the market still had some scope for growth over the next 12 months.

“I think we've seen the strongest part of the growth cycle but I think there's certainly still upside growth at a moderate level for most of Perth going forward over the next year or so,” he said.

Slowing Perth market still has room to move
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%