29/01/2010 - 11:47

More data show Perth housing price rise

29/01/2010 - 11:47

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A new set of figures by RP Data and Rismark International has shown Perth's median house price has risen 6.5 per cent to $490,000 during the month of December.

More data show Perth housing price rise

A new set of figures by RP Data and Rismark International has shown Perth's median house price has risen 6.5 per cent to $490,000 during the month of December.

The headline number is significantly below that shown in data released yesterday by Australian Property Monitors but confirms the trend. APM said the median price of a house in Perth was $512,000, up 8.7 per cent over the past 12 months.

For the median price of a unit, there was a near $15,000 difference between the two property research organisations, with RP Data today saying unit prices reached $400,000, up 9.5 per cent over the past year.

APM yesterday said the median unit price reached an all-time high of $385,001, surging 15.8 per cent.

The discrepancies in the house and unit prices are due to the different methods RP Data-Rismark and APM collect and analyse their data.

However, RP Data's figures will hold more weight with the Reserve Bank of Australia which uses the data at its monthly board meetings.

RP Data also said today that gross rental yields for Perth remained below the national average of 4.1 per cent, only reaching 3.9 per cent for December.

RP data also said today that gross rental yields for dwellings in Perth for the December month remained below the national average.

Rental yields for a house reached 3.9 per cent compared to the national average of 4.1 per cent while yields for a unit hit 4.2 per cent, compared to 4.9 per cent nationally.

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