Aug 24, 2018
There is growing evidence of recovery in the Perth property
market, including rising sales activity and a significant uplift in
prices in the Top End suburbs.
Our Winter survey of sales activity for The Price Predictor Index has confirmed the strong showing in the two previous quarterly surveys.
In this survey we have given a positive ranking (rising, plateau or consistency) to 132 suburbs in the Perth metro area.
It should be remembered that Perth is rising from a low base and that none of its suburbs has sales activity comparable to those in 2012 and early 2013.
But the momentum in the market is undeniable and it seems only a matter of time before some locations return to the strength of the pre-downturn days.
Confidence that the upturn is sustainable comes from revival in the mining sector and the large numbers of jobs being created. As the WA economy improves, businesses thrive and business people become more confident in their real estate purchases.
This suggests that Perth generally can look forward to a return to price growth in the near future.
Putting all these factors together - more growth markets, fewer Danger markets, more consistent ones and early signs of prices rising - provides evidence of a return to strength in the Perth market.
View the report here