Perth's run at Sydney Falters
The resources boom in the west saw Perth House prices take off in 2005 after Sydney's housing boom had peaked. Interest then turned to whether the median price of a Perth House might eclipse that of Sydney. Well after coming within $20,000 over the previous two quatters, Sydney has kicked away in the June quarter to open the gap to over $60,000 (Sydney $530,000 and Perth $463,000).
Household weighted national average for the 8 state capitals is now $421,000 and annual increase has nudged back to positive territory (up 1.3%) for the first time in 3 years. You can graph prices and increases in the Research Centre using Data Series Graping.
Posted Sunday, 26 August 2007
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