Perth house prices steady in April

Having shown recent signs of improvement, Perth house prices were steady in April, while the national market continued its downward trend, according to the latest data from CoreLogic.

Before April, Perth house prices had risen in four of the previous six months, with a slight decrease in February.

Perth prices were unchanged in April, leaving the annual decline at 2.3 per cent, while prices rose 0.1 per cent in the quarter.

The median house price in Perth sits at $464,238, compared with the national average of $554,605.

Nationally, house prices declined 0.1 per cent in the month, resulting in a 0.3 per cent decline for the quarter and a 0.2 per cent uptick in the annual rate.

“National dwelling values nudged 0.1 per cent lower in April, the seventh consecutive month-on-month fall since values started retreating in October last year according to the CoreLogic April home value index results out today,” CoreLogic head of research Tim Lawless said.

“Capital city dwelling values were 0.3 per cent lower over the month, driven by larger falls of -0.4 per cent in Sydney and Melbourne and a smaller decline in Brisbane values (-0.1 per cent). 

“The falls were offset by flat conditions in Perth and subtle rises in Adelaide (0.1 per cent), Darwin and Canberra (both 0.6 per cent). 

“Hobart was the only city where dwelling values rose by more than 1 per cent in April.”