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House prices are well down since their peak. Photo: Attila Csaszar

Perth property down 8.8% in three years

Perth residential property prices fell 0.8 per cent in the June quarter, to be down 3.1 per cent across the financial year, according to data released by the Australian Bureau of Statistics today.

It means prices have fallen nearly 8.8 per cent since their peak in June 2014, and are now at levels seen in around 2012, according to the Residential Property Price Index calculated by the Bureau.

The most recent numbers compare with an increase of 1.9 per cent on average across all Australian capital cities in the three months to June, and 10.2 per cent for the whole financial year.

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