Apr 23, 2019
The Perth market is the strongest it’s been since it lapsed into downturn five years ago. Vacancies are down, rents are rising, sales are up and 40% of suburbs have median prices higher than a year ago. Recovery is undoubtedly under way, even if it's not showing up in the generalised price data published by media.
Our Autumn survey of sales activity for the Price Predictor Index has given a positive rating (rising, plateau or consistency) to 168 suburbs in the Perth metro area. The number of suburbs with a positive rating has risen from 17 to 46 to 61 to 88 to 109 to 115 to 132 to 143 to 152 to 168 in the quarterly surveys of the past two and half years.
So the steady improvement in the Perth market continues and this is starting to deliver price growth in some markets: our suburb-by-suburb analysis of 216 Perth markets shows that 85 have median prices higher than a year ago (58 have risen by less than 5% and 27 have risen 5% or more) and 131 suburbs have medians still lower than a year ago (72 are down by less than 5% and 59 have dropped 5% or more).