Perth's December Property Market Update
Channel: Infinite Wealth
Date: 06/12/2022

CoreLogic’s Perth home value index remained stable in November.
 
Brisbane and Hobart recorded the largest decline (2 per cent), while Darwin was the only capital to record an increase (0.2 per cent).   
 
REIWA CEO Cath Hart said the Perth index had hardly changed since May when interest rates started rising. 
 
“The increases have added $760 per month to a $500,000 mortgage since May, while those on a mortgage of $1 million have seen repayments increase $1,520 per month,” she said. 
 
“Rising interest rates have clearly impacted prices and borrowing capacity in the Eastern States. Perth, on the other hand, is very well-placed to weather the changes in interest rates."
 
“The Western Australian economy and finances are among the strongest in the world. The population continues to grow and WA has one of the lowest unemployment rates in the country.  At a recent RBA meeting they noted there were currently more ads for jobs in WA than active candidates."
 
“Meanwhile, Perth is the most affordable capital city in Australia."
 
“These factors are all supporting the property market and there is nothing right now indicating that house prices will fall drastically any time soon.”   
 
Now Let's get into the details with this month's Perth's #MarketUpdate

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