Perth October quarter median house and unit price round-up

Perth house prices are forecast to grow by between 5% and 10% in 2012, according to Australian Property Monitors. 

“Perth offers one of the best prospects for prices growth in 2012 with a significant increase in buyer activity,” says APM senior economist Andrew Wilson. 

“Low buyer confidence has seen Perth’s median house price fall by nearly 6% in the year to October 2011, which is almost 10% below the peaks recorded four years ago. 

“With recessed house prices together with low levels of new construction and a flood of workers seeking the wages bonanza delivered by nearly $100 billion in mining activity, Perth houses prices have the clear potential to rise by a double-digit percentage in 2012."