The heat is rising in the Perth property market, according to data recently released by REIWA and the CoreLogic Home Value Index.
Property prices are on the rise, with the median Perth price rising 3.8% for the rolling quarter to January, and sales activity increasing by 25% during 2020, compared to 2019.
The rental market remains tight with prices lifting 10.8% and listings decreasing 57% during 2020, with the current vacancy rate below 1% for the first time since 2013.
> Perth is Currently Australia’s Fastest Growing Major Market
> House Prices Predicted to Rise By Up to 10 Per Cent in 2021
> Perth Property Prices Rise In January
> Market Heats Up With Increased Activity
More and more West Australians are recognising that now is the time to buy. - Damian Collins, REIWA President