Perth’s housing market continues to be a top performer nationwide. House prices reached another new record after surging 16.6% higher than a year ago – the city’s steepest growth in 17 years. It has also been a significant milestone for Perth’s unit prices, which soared to a record high and finally overtook the previous peak of a decade ago. This resulted from unit prices accelerating substantially after the city’s fastest quarterly gain in 3.5 years (at 8.1%) and 17-year-high annual gains (at 17.2%). The growth in unit prices has outperformed houses annually and quarterly – breaking a trend seen across the last 11 successive quarters and narrowing the price gap to 83%, down from the previous quarter’s record 95%.

 

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