Perth worst performing city

Property values in Perth slipped in January with latest figures from RP Data showing the median price of a home dipped to $472,500.


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To call Perth the worst performing city is melodramatic. When a property sells, the purchase price is determined by how much the willing buyer is prepared to pay, so more realistic offers are being made. My opinion is that prices have been too high and this brings them into line to enable more people to enter the market. Perth has been the leader for many months; time to have a break so prices become realistic and more affordable

Median house prices mean little to nothing when a fair chunk of properties being sold are by those that borrowed heavily (those with a lot of collateral) that had to sell very high priced property to reduce their overall debt (read - cottesloe, mosman park, claremont etc). The hype that keeps hitting the media is from either REIWA, Real Estate agents or those with a vested interest in higher property prices and the scare-mongering tactics used to artificially inflate prices. My guestimation is that there is sufficient housing for EVERYONE in this beautiful country of ours, however, the taxation on investment properties encourages people with already substantial collateral to keep investing in property thereby pushing out new / first homebuyers. It's about time the government takes a hard stance against this dilemma and realise that artificially raising property prices by allowing demand to substantially outperform supply via their taxation laws to line their own pockets through ridiculous stamp duty fees is not in the best interest of our future generations. Unfortunately the only loser is - the first / new homebuyer.

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