Perth housing values continue to rise through September, with values up a further 1.6% over the month, adding approximately $12,730 to the median value. Though values are rising rapidly, some heat has left the market, with the quarterly pace of growth easing from 6.2% in the June quarter to 4.7% in the September quarter.

The subtle slowdown in value growth has been accompanied by a gradual rise in advertised stock levels, with fresh listings coming to market 3% higher than a year ago and 6.5% above the previous five year average.

Perth house prices graph

Source: CoreLogic

Despite the lift in vendor activity, the market remains well in favor of sellers total advertised suppliers holding more than 40% below the previous five year average and homes are selling with a median of just eleven days over the past three months.

You may also want to read: National Housing Market Update

About Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au