Perth market rises in March quarter
The median house price in Perth has risen 2% in the March Quarter to $427,000, its first rise in over a year.
The Real Estate Institute of Western Australia says it appears the market has finally bottomed out, after several years of declining prices. Gosnells grew 3% while Wanneroo in the city’s north-west increased 3.6%.
Overall sales volumes grew 40% in the March Quarter - back to the levels of September 2006, just before the Perth market peaked and began to decline.]
