‘Market recovery is going to be delayed’: Perth property prices slide again

PHOTO: Experts say lending conditions have affected the recovery rate for the Perth property market. Photo: iStock

Perth’s median house price has dropped 5.2 per cent in the past year despite early indicators of encouraging signs of a market recovery, new figures show.

House prices fell 2.5 per cent during the March quarter to $529,997 compared to a median of $559,296 in March 2018, according to the latest Domain House Price Report, released on Monday.

Unit prices fell 1.1 per cent during the quarter and 5.6 per cent year-on-year to $347,596.

READ MORE VIA DOMAIN