The weekly median unit rent increased 1.3 per cent, or $5, to $380, according to the latest Reiwa data.

Perth's property median hits $540,000

The local property market is beginning to show signs of stability as the rental market gains strength, according to the latest Real Estate Institute of Western Australia figures.

Reiwa data showed the median house price in Perth increased to $540,000 for the three months to December, up 0.9 per cent from November's median of $535,000 and is about $30,000 higher than what CoreLogic RP Data valued yesterday.

Reiwa president Hayden Groves said the increase in the median house price, along with a fall in the number of properties for sale, was indication of a market that was beginning to steady.


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