Continue falling dwelling values in the Perth property market

current fair market value Perth

Dwelling values in Perth have fallen heavily again. It shows the nation’s biggest western Australia Capital (Perth) property markets are falling even faster.

According to a recent report released exhibits - “Dwelling values in Perth fell by 0.6 percent in the last month i.e September to be down 2.1 percent till now this year.” Unit values fell by 1.1 percent and so far in this year, it is decreased by 6.5 percent. Though the residential property valuers are saying this condition is even worst in the New South Wales capital city Sydney and Victoria’s Melbourne.

In the month of September, the Sydney dwelling values fell by .8 percent and now down by 4.9 percent till now this year. Over the past 12 months, they have dropped by 7.6 percent.
Whereas in Melbourne, house values in September fell by 1.1 percent and 5.1 percent dropped through this year.

These above-stated values are clearly depicted that the biggest falls in housing values had been among capital and busiest cities properties in Sydney and Melbourne.

The nation’s strongest real estate property market Tasmania Hobart where values were increasing by 0.3 percent in the month to be 6.2 percent till now in this year.

Perth residential property valuer predicts that - The slow growth in the overall economy and population growth would balance the Perth property market. However, the Perth property values have falling continuously which is showing no positive sign. But the shine of hope can be seen in the inner city area and the city’s south-west suburbs are likely to improve in a much better way than the rest of the state. Prices are expected to increase in the Perth south-west suburbs which is estimated as 2.3 percent increase in the year 2020.

According to a recent report - Over the past three months 50 percent of units sold in the Perth made a loss for homeowners. Almost one-third homes were sold for the loss.

The Perth suburbs are doing pretty well suburbs bucking the trend. The number of properties sold in these suburbs like - Langford, Piara waters and victoria park has increased significantly in the past year. The increase sales in Perth’s other suburbs like North Beach, Trigg and Alfred Cove has recorded. According to the residential property valuer - One of the best suburbs in Western Australia offering beachside living at a bargain price is Singleton. It has been recorded as the highest selling suburb in Australia. House affordability is the main factor that drives the sales volume - said by Perth home valuer.

If you are finding a home in a Western Australia Perth contact Perth home valuer to for home valuation services.