Perth house and unit medians stable in March

Perth house and unit medians stable in March
Perth house and unit medians stable in March

Perth’s median house and unit prices were stable in March, with data showing both sectors of the housing market were holding up well.

REIWA President Hayden Groves said Perth’s median house price had increased 0.5% to $517,650 in March, while the median unit price had remain unchanged at $407,000.

“It’s pleasing that both house and unit prices are strengthening at the same time because it suggests one sector of the market hasn’t started to recover at the expense of the other.

“Unit prices in Perth are following the same trends we have observed in house prices, with March being the third month in a row the unit median has remained stable,” Mr Groves said.

The top performing sub-markets for median house price growth in March were South Perth/Victoria Park, Fremantle, Belmont, Vincent/Stirling SE and the Western Suburbs, while in the unit market Joondalup South, Cockburn, Stirling West, Bassendean/Bayswater and Stirling East were the stand-outs.

“Additionally, optimism among sellers appears to be returning with data for March showing listings for sale increased three% over the month.”

“Consumer sentiment in WA is currently the highest it’s been since mid-2013 when we were at the height of the resources boom."

Perth Median Price

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