Perth home values were largely flat in June, according to property analysts RP Data.
According to its monthly look at median house prices, Perth home values dropped 0.2 per cent in June, for a 1.3 per cent fall in the June quarter.
Year-on-year, Perth remains the nation’s second weakest performing property market with a fall in value of 4.7 per cent, RP Data said.
Brisbane home values have fallen by 6.3 per cent over the past year, to make it Australia’s worst performing capital city.
Nationally, the figures were also flat, with RP Data’s home value index falling 0.2 per cent in June, the sixth straight monthly fall in capital city home values.
The rate of decline has been moderating since January, however, when capital city values fell by 1.2 per cent, due to the natural disasters along the east coast of Australia, the report said.
RP Data research director Tim Lawless said market conditions were being dampened by soft consumer confidence fuelled by interest rate speculation and global economic jitters.
"The higher than expected CPI (consumer price index) figures earlier this week are likely to reignite the interest rate debate which is not going to assist with an improvement in consumer sentiment," he said.
The study was based on almost 150,000 home sales nationally over 2011.
For regional markets, there has been a similar pattern of slowing value declines, but Western Australian markets were again among the worst performing.
For the first six months of the year, regional market median home values were down by 2.8 per cent across Austrlaia.
The weak performance, Mr Lawless said, could mostly be attributed to regional markets in Western Australian and Queensland.
“House values were down 2.5 per cent and 2.7 per cent, respectively, in regional Western Australia and Queensland over the June quarter,” he said.
“Fragile regional conditions are likely to be concentrated within the ‘lifestyle-centric’ markets along the coastline rather than the resource-driven areas where housing markets remain quite healthy.”