Published on January 31st, 2012 | by john.weir0
Perth house prices take a hit
Property prices in Perth suffered the biggest fallÂ across AustraliaÂ during the final quarter of 2011 says a a new report.
Housing market analyst RP Data said thatÂ 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,Â Australian capital city dwelling values experienced a capital loss of about 3.5 per cent.
However, rental prices are still surging – RP Dataâ€™s Tim Lawless observed that rental markets continued to strengthen in December.â€œWeekly 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,â€ he said.
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