CoreLogic warns that Perth is heading for 5 year price plunge

March 15, 2019

The recent trend in property prices for Perth has seen declines and much negative press starting from approximately back in June 2014 when prices were at their peak. Since that time there has been a fall of 17.8% with some predicting that the market is bottoming out, though many others feel that prices may have further to fall. 2019 will the a five year trend of downward prices for Perth.

“In late 2017 and early 2018 it was looking as if the falls were coming to an end,” CoreLogic was stated as warning on Thursday.

“However, the market has weakened further in line with weaker labour market and economic conditions as well as tighter credit conditions.”

As a whole, Australia is in the midst of a steep housing downtrend with prices falling 6.8% on average nationwide. Darwin, the capital of Australia’s Northern Territory, has been hit the worst with a 27% price drop since May 2014.

Full report available to read on the Perth Now website.

EAN Breaking News

Breaking News. Have a new story to share with us? Then please get in contact today!

You May Also Enjoy

Letting Agent Talk

Landlords and tenants advised to work together to get through extreme heatwaves

With some areas set to be hotter than Portugal this week, lettings and estate agents across the UK are issuing advice to protect properties ahead of extreme weather Prolonged periods of hot weather across the UK are placing additional pressure on homes, from overheating and poor ventilation to damage caused by extreme temperatures. Today, lettings…
Read More →
Estate Agent Talk

Nearly half of UK home listings fail to sell

A London estate agent has warned that thousands of homeowners across the UK are pricing themselves out of the market by setting asking prices that no longer reflect what buyers are willing to pay. The warning comes after new analysis by Zoopla, covering more than two million property listings between 2023 and 2026, found that…
Read More →
Rightmove logo
Breaking News

Lowest number of new build developments coming to market since 2017

New analysis from the UK’s largest property platform Rightmove reveals that the number of new build housing developments coming to market is at its lowest level since January 2017 The figures are despite the government’s target to build 1.5 million homes over the course of this parliament Higher mortgage rates continue to set a challenging…
Read More →
Estate Agent Talk

What Every Estate Agent Should Tell Clients Before Moving Day

For most estate agents, the job is done once contracts are exchanged, completion takes place, and the keys are handed over. For your client, however, that’s when one of the biggest challenges begins. Moving day has the power to turn months of excitement into an incredibly stressful experience, or a smooth finish to what has…
Read More →
Breaking News

Breaking Property News 9/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   PropTech is evolving but WhatsApp is still winning the Property transaction battle A home-moving process that a decade of PropTech failed to fix   Thought leadership by Olivier Jauniaux Founder of NestLink There are a particular series of messages, somewhere in every property chain, that decides whether…
Read More →
Breaking News

Heatwaves haven’t diminished love for south-facing gardens

The latest research from Yopa reveals that despite 81% of people saying they have been avoiding their garden during the recent heatwaves, south-facing gardens continue to be the preferred orientation of choice for UK homeowners, attracting house price premiums of over £20,000 on average. However, the insight from Yopa also suggests that should heatwaves become…
Read More →