Reiwa reports June median price fall

The second measure of Perth's residential real estate market in as many days has shown a similar result, with the Real Estate Institute of WA (Reiwa) reporting a 1.3 per cent fall, or $5,000, in median prices in June.

Reiwa’s statistics follow market analysts CoreLogic RP Data saying yesterday that Perth’s median house price had fallen by 0.4 per cent in June by its measures.

President David Airey said Reiwa’s research put the Perth median house price at $545,000, the same price it was at this time last year.

“This highlights how very stable the median price has been over the last year,” he said.

Sales volumes were down 2 per cent on the March quarter, and 8 per cent below the same period last year.

Mr Airey said the number of listings on the market appeared to have plateaued.

“This means we are likely to see a continuation of the current, relatively steady market,” he said.

“Sales are quite buoyant in some areas, typically in lower price ranges, but it’s a noticeably slower market in areas with higher priced properties.

“Overall there is plenty of choice for buyers.”