Real estate data for the June quarter has revealed regional house prices in Western Australia have bounced back after dropping sharply in the second half of last year.
The median house price for regional WA grew 6.6 per cent in the past three months, while Perth homes increased by just 2.3 per cent.
The median house price in country areas is now $373,000.
Real Estate Institute of WA president, Rob Druitt, says it is further evidence the housing market is stabilising after last year’s sharp drops.
“The bottom of our market was in the second half of 2008. We’ve now seen a more normalised, stable market,” he said.
“That’s good news for home buyers in the sense they can see interest rates are at 49-year lows, there is some growth there and we can see the market slowly improve from here.”
Source : www.abc.net.au
All the latest NEWS from Perth 