Four of Australia’s eight capital cities are now showing an annual growth rate in dwelling values higher than 10%, while Perth values continue to trend lower on an annual basis.
Adelaide and Brisbane continue to record more sustainable growth conditions while dwelling values have continued to trend lower in Perth and Darwin on both a quarterly and an annual basis.
Dwelling values in Perth fell by -4.7%.
Results from Perth showed a small rise in dwelling values over the month, however the broader trend in housing values remains negative across Perth with values slipping 1.3% lower over the March quarter to be 4.7% lower over the year.
A large number of Western Australia residents have departed for other states with interstate migration figures indicating a net loss of approximately two-and-a-half thousand residents from the state each quarter, that of course detracts from housing demands.