The Perth housing market has had a reprieve from value falls in October with the CoreLogic index recording a 0.8 percent rise in Perth dwelling values.
Apart from Adelaide (-1.3%) and Perth (-1.5%), every capital city recorded a rise in dwelling values over the past three months, with the Canberra housing market recording the largest increase in values after a 5.6% quarterly rise.
While the monthly result is a positive outcome for property owners, we will need to see a few more consistent months of growth before we can suggest the Perth housing market has bottomed out.
Since dwelling values peeked into December 2014 Perth values have fallen by 9.7%, listing numbers remain relatively high across the city which is likely to dampen the prospects of a market recovery and vendors are still facing long selling times and high discounting rates across the city.
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Adelaide Housing Market Update [Video] – November 2016
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