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Home values in Perth have continued to decline over the second
quarter of 2016, down –3.0%, which has taken them –3.9% lower
over the first half of 2016 and –4.7% lower over the past 12 months.
Perth home values are now –7.4% lower than they were at their end
of month peak in December 2014. Over the past year, unit values
have fallen by –5.5% which is larger than the –4.6% decline in house
values. While home values fall, rental rates are declining at a more
rapid pace. Over the past 12 months, Perth house rents have fallen
by –8.7% compared to a –7.6% decline in unit rents. Subsequently,
gross rental yields have fallen from 4.0% for houses and 4.6% for
units a year ago to 3.8% for houses and 4.5% for units currently.
WESTERN AUSTRALIA
Perth market continues to ease
Perth’s performance over time
Perth’s best performers
Houses
Units
Median Price
$521,400
$405,000
Quarterly change
–2.8%
–5.5%
12 months change
–4.6%
–5.5%
5 year total change
4.6%
–3.3%
10 year total change
17.7%
17.5%
Rank
Suburb
$
Affordable
1
BROOKDALE
$335,000
31 3.5%
2
WARNBRO
$380,000
178 1.3%
3
SEVILLE GROVE
$390,000
173 0.4%
$$
Mid–range
1
DARLINGTON
$650,000
61 5.3%
2
KALAMUNDA
$688,000
94 3.5%
3
SERPENTINE
$650,000
21 2.4%
$$$
Prestige
1
SWANBOURNE
$1,602,500
58 11.7%
2
EAST PERTH
$1,312,500
15 8.0%
3
CHURCHLANDS
$1,357,500
38 4.3%
Rank
Suburb
$
Affordable
1
THORNLIE
$340,000
18 13.3%
2
OSBORNE PARK
$340,000
81 3.0%
3
WESTMINSTER
$354,000
21 2.0%
$$
Mid–range
1
FORRESTFIELD
$419,000
18 24.4%
2
CANNINGTON
$408,500
38 3.5%
3
MYAREE
$424,500
10 0.1%
$$$
Prestige
1
EAST FREMANTLE
$605,000
48 14.2%
2
MOUNT PLEASANT
$679,500
21 13.8%
3
CRAWLEY
$850,000
47 13.3%
Rolling Median Price (12 months)
Number sold (12 months)
12 month change in median price
Affordable
= suburbs below 25th percentile
Mid–range
= suburbs between 25th and 75th percentile
Prestige
= suburbs above 75th percentile
Based on CoreLogic monthly indices capital city data to June 30, 2016
Perth Median Price
Houses
Units
Dwellings
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
JUN-06
DEC-06
JUN-07
DEC-07
JUN-08
DEC-08
JUN-09
DEC-09
JUN-10
DEC-10
JUN-11
DEC-11
JUN-12
DEC-12
JUN-13
DEC-13
JUN-14
DEC-14
JUN-15
DEC-15
JUN-16
20