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House prices improve

Perth house prices rose 0.5 per cent last month, with an industry analyst suggesting the worst may be over for local dwelling values.

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All Things Residential. ian@ianholloway.com.au
Fascinates me. How can any body proclaim the market could be on the improve after a 0.5% "gain" That level of gain could and probably is, an aberration.If we see a continuation of that number over a period one may be able to make such a claim. The Housing and development industry are yet to see any real growth other than the seasonal improve in February. Vacancy rates are still climbing. Population intake is decreasing. The building industry is starting less than its completing. So curios to where the demand is coming from to increase prices?

Perth
I'm afraid I have to agree with Ian Holloway. One little movement in the positive is no trend. Certainly not what is being reflected in the construction & housing industry realtime.

Measuring housing value by the median is a fairly crude measurement of the state of the sector and how our individual properties are faring. We are building more units and affordable housing than previously and also building on smaller blocks so the median is naturally going to fall. This isn't necessarily a bad thing as it improves the options and affordability for all. A better measure of the overall health of the market is the turnover of property, how many are being bought (new and existing) and how long they are taking to sell but the focus is always on the median value.

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