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Published on January 31st, 2012 | by john.weir

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Perth house prices take a hit

Property prices in Perth suffered the biggest fall across Australia during the final quarter of 2011 says a a new report.

Housing market analyst RP Data said that median dwelling values fell a seasonally adjusted 1.6 per cent in December, second only to Hobart, where prices came off 2.7 per cent in the final month of 2011. During last year, Australian capital city dwelling values experienced a capital loss of about 3.5 per cent.

However, rental prices are still surging – RP Data’s Tim Lawless observed that rental markets continued to strengthen in December.“Weekly rents across the capital cities were up 1.0 per cent over the December quarter and are now 6.3 per cent higher than at the same time last year,” he said.

Want to know more about the Australian property market or how to emigrate to Australia ? Come to Down Under Live, in London, Birmingham and Edinburgh in February 2012.

 

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