October home prices rise in WA
As with September, October house prices in Perth and much of regional WA rose again. Even with the shortage of established homes for sale easing, just over 5100 properties sold in the Month (REIWA)
The median house price in WA has risen to $221 700 an increase of 16.7% over the year to October.
Mandurah and Busselton outperformed the Metropolitan area with increases of 26.9 and 17.9% over the same period. Median house price in Mandurah is $206,250 and in Busselton it’s crept closer to Perth at $217,300.
There were 7500 homes for sale in Perth at the end of October which was 20% up on the stocks in September.
A 20 year survey showed Perth averaging 9.2% each year in the median house price, employement is strong and housing levels are still relatively affordable. Suburbs close to the river and ocean have lead in prices over the 20years.
Perth realtor Mark Hay said Perth was rapidly becoming the place for eastern states investors to buy residential property.
Just some Info for anyone who’s interested in WA
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REDWING[|)]
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
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