The median house price in Perth increased 0.5% in March holding strong to the forecast that Perth has weathered the storm and is going in the right direction. The median house price for Perth now sits at $517, 650 while the median unit price remains at $407,000. Results vary across suburbs but the overall market direction is healthy and encouraging.
March marks the third month in a row that the unit median price has remained stable, this is significant as the unit market has been challenging.
Realmark Managing Director, John Percudani stated, “The increase in sentiment and confidence in the market is at the helm of this positive trend. The market is on the right track to recovery and we hope to see it consolidate further in 2018."
"It is not only buyers who are gaining confidence in the market, sellers are showing signs of assurance with a 3% increase of properties going on the market for sale in March. Auctions are often an early indicator of market sentiment and there have also been a number of benchmark results from auctions conducted by Realmark" said Mr Percudani.
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