Market Report - Western Australia (September 2007)


After a period of huge change, the Perth property market has come to a relative standstill. However, some outer suburbs are continuing to benefit from their desirable locations

The Perth property boom was never going to last forever, and after slipping into negative growth in the March quarter, things now seem to be back on track – albeit in a more low-key fashion.

Residex figures for the three months up to May show an increase of just 0.77% in Perth, while in country Western Australia the growth lingers at 1.63%. But according to Rob Druitt, president of the Real Estate Institute of WA(REIWA), these figures offer no surprises.

"It’s what we would have expected in the current post-boom market, but the fundamentals are still there for the market to move forward," he says. "There's underlying demand and it’s anticipated that the second half of the year will see a return to normal capital growth rates of 8–10% pa– a more sustainable, modest growth, but certainly in positive territory."

However, things are likely to remain unchanged in the next quarter. "We'd anticipate for June that our median house price will remain the same," says Druitt. "But getting into September–December we're going to see that underlying demand flow through the market."

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : menai , reservoir , murdoch , ropes crossing , sth toowoomba

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here