News Articles for CoreLogic

The weak state of the residential property market in Perth has been highlighted by new data from the Real Estate Institute of WA showing a further decline in the median house price and a sharp jump in the number of vacant rental properties.

There was a lot of money made on residential property sales around Australia in the June quarter, but the joy wasn't spread around evenly, with more than 10 per cent of all houses and about 20 per cent of all units sold in Western Australia during the quarter selling at a loss.

Residential rents in Perth are now 13 per cent lower than the peak of 18 months ago, with the median price to lease a property slipping to $410 per week.

Perth's median house price is either flat or on the nose, according to the latest analyses by market watchers CoreLogic RP Data and the Real Estate Institute of WA.

The second measure of Perth's residential real estate market in as many days has shown a similar result, with the Real Estate Institute of WA (Reiwa) reporting a 1.3 per cent fall, or $5,000, in median prices in June.

Perth median house prices remained largely flat in June, recording a 0.4 per cent fall, taking the yearly reduction to 0.9 per cent, according to market analysts CoreLogic RP Data.

Perth's residential rentals market is increasingly turning in favour of tenants, with rents continuing to fall and the number of properties for lease rising, according to prominent market analysts.

Property owners in regional Western Australia are the most likely in the nation to record a loss when selling their homes, according to new research released today by CoreLogic RP Data.