Perth Property Prices

May 24, 2020English

Perth Property Prices

May 24, 2020
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Perth Property Prices in 2020 have continued trending upwards after recently turning positive.

All of Perth’s sub-regions recorded a rise over the March quarter. Overall, Perth Property Prices were up +0.5% in March, and 0.9% over the quarter, but down -3.1% for the past year.

Perth Average House price: $461,845
Perth Average Unit Price: $356,868

The Perth property market is quietly recovering with state government spending big on infrastructure, including rail projects and shopping centres having an upward impact on Perth property prices.

Sales records since 2018 are evidence of life coming back to the state after the end of the mining boom. Garden City in Booragoon is one postcode to watch, as is the waterfront development at Bunbury.

Western Australia Key Statistics

In Greater Perth, Western Australia – including Perth City, Joordalup, Freemantle, Armadale, Rockingham, Mandura:

Average monthly rental cost $1,600 (national average $1,524)

Average monthly household mortgage cost $2,132 (national average $1,958)

Average house price $510,000

Average apartment price $403,750

Across the rest of Western Australia:

Average household income $49,309

Average monthly rental cost $1,071

Average monthly household mortgage cost $1,795

 

Source: thinkingaustralia