May 6, 2010, Australia – From the announcement released by the APM House Price recently regarding the rise again regarding the home for sale in Perth Australia. From the increase last March of almost 5 % then again rise this month. According to the report from Australian Property Monitors, the gradual increase has been started in the quarter of March however this has been reported as a decreased from the sharp rise up last quarter of December.
In addition to the report all capital cities except Adelaide and Darwin saw this rate increase of the median house for sale from March to December. Perth median house prices rose by 1.1 per cent in the March quarter, which is down from 3.1 per cent in the December quarter. The date showed from APM that the yearly house price has been increase almost 9.4 percent in Perth compared to the national average of 16.2 per cent. As nationally the median house price rose by 3.1 per cent in the first three months of 2010.
From the APM economist Matthew Bell statements that even this quarterly increase rate are gradual but then again the yearly is still growing. “This is due to a relatively strong March 2010 quarter replacing a weak March 2009 quarter in the annual figures. National house price growth has hit 16.2 per cent in the year to March, driven by the annual rises in our two biggest markets,” he said.
Alan Bourke president of the Real Estate Institute of WA said to his interview that the home for sale in Perth is possibly will pass the $500,000 mark in the March quarter because both the buyers and the seller will gain their confidence to invest with the house market. This also from the data recorded as the figures of 12,700 properties for sale in Perth at the end of March, representing a 22 per cent increase on December.
He said, “this included more than 2,000 blocks of land, which was significantly more than some other recent reports on lot supply have suggested.”
Source: WA Business News
