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Bullish outlook on housing prices

MEDIAN house prices in Perth are expected to rise more than 15 per cent during the coming year, according to a bullish forecast by real estate group Roy Weston.

Chief executive Geoff Baldwin said that, unlike other States, the demand for housing in Western Australia remained strong across all sectors and was still affordable.

Mr Baldwin said the key reason the Perth housing market remained vibrant was because it had not experienced the same level of “hype” property investment seminars as the east coast.

“The reality is that, in the next two years, Perth should enjoy the highest price growth rates of any capital city in Australia while the overall Australian housing market undergoes a major market correction,” he said.

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