Perth house prices took another hit last month, with the median slipping 0.8 per cent as the combined value of the nation's capital cities edged 0.1 per cent higher.
ANALYSIS: Positive news on employment and among some key commodities appears to mark a positive trend for the state's economy, and Business News' BN30 stock index backs that up.
Homeowners in Perth will have to wait another month to see if a predicted recovery in the residential property sector gains traction, following a 1.3 per cent fall in median prices in July.
A small turnaround in Perth dwelling values last month helped stave off a negative quarterly result, as the Western Australian capital continues to battle a persistently subdued market.
Property analyst BIS Oxford Economics believes there is limited upside for residential property in Perth and says the market has yet to bottom out, contrary to the widely held view that the worst is over for Perth homeowners.
Multiple public holidays in April are considered a likely contributer to a soft housing market for the month, with Perth house prices slipping into negative territory again amid a slowdown across the country.
A research collaboration between CoreLogic and ratings agency Moody's has predicted a turnaround in Perth's depressed property market this year, with a 2.8 per cent rise in detached house values foreshadowed.
Perth median home values rose 1 per cent in March, according to the latest data from CoreLogic, but the Western Australian capital remains Australia's worst-performing residential property market on an annual basis.
The worst could soon be over for Perth's troubled housing market, with new data hinting at a bottoming of the downturn while warning that any recovery will likely be slow.
Outback Western Australia is the worst-performing property market in the nation, according to a new report by ratings agency Moody's, which also found housing prices in Perth have fallen by 8 per cent since peaking in December 2014.
Perth's housing market continued to show life to round out 2016, with median house prices posting their first quarterly increase since April last year, according to property analytics firm CoreLogic.
New data out today confirms Perth's residential property market has yet to show signs of a turnaround, but one industry figure says the sector is close to the bottom of the cycle.
Perth is now the only capital to record a year-on-year fall in house prices, and was the weakest-performing city in the three months to November, according to new data.
Perth dwelling values tumbled by 2.5 per cent last month to their lowest level in nine years as weak demand continued to cripple the housing sector in Western Australia.
Perth home prices fell 1.2 per cent in the three months to June, official figures released today have shown, while the average price across Australia's capital cities rose 2 per cent.
More than 80 per cent of houses sold in Perth in the year to the end of June went for $400,000 or more, the latest evidence of the difficulties faced by low income earners seeking to own a home.
Perth dwelling prices fell 1.7 per cent in the three months to March, while the average dwelling price across Australia's capital cities also fell for the first time in over three years.
Growth in Perth's housing market within the next six months has been foreshadowed in a report compiled by CoreLogic RP Data and ratings agency Moody's.
Perth's median house price remained stable at $535,000 for the three months to March, according to the Real Estate Institute of Western Australia, while reported sales activity in the metro region jumped 15 per cent.
Perth median home values rose over the month of March, but are still down 2 per cent on where they were a year ago, according to the latest research from CoreLogic RP Data.
Perth experienced a slight improvement in the Residential Property Price Index during the December quarter, but still suffered a 2.9 per cent fall for 2015 overall, the Australian Bureau of Statistics said today.
Perth dwelling values fell 1 per cent in January as Australia's combined capital cities showed a 0.9 per cent rise, with the local market expected to remain soft this year.
Western Australia's regional rental market was the weakest performer in the country in the last three months of 2015, with the Pilbara area taking a large share of the blame.
Perth dwelling values took a surprise positive turn in the last month of 2015, but a property analyst predicts growth in the local housing market is still at least a year away.
The Reserve Bank of Australia has resisted temptation to slash interest rates to another historic low, but has flagged the possibility of cuts in the near future.
Perth's falling median house price may be causing doom and gloom for property owners, but two top agents say current market conditions represent a perfect time for potential buyers either to get a foothold on the property market or upgrade their position.
