Perth house prices increased over the March quarter to an all-time high. In fact, Perth and Adelaide are the only capital cities currently at a record high. That said, the upswing continues to lose steam as quarterly house price growth more than halved compared to the previous quarter, reducing the annual increase to a two-and-a-half-year low. Perth and Melbourne are the only capital cities with a record price gap between property types after Perth house prices outperformed unit prices for eight consecutive quarters. This is likely to widen as quarterly and annual growth rates head in opposite directions.

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