PHOTO: House prices across Perth could increase in 2020 after a bottoming out of the market later this year. Photo: iStock
Glimmers of hope are ahead for Perth’s property market with prices predicted to rebound in 2020, according to Domain’s property price forecast released on Wednesday.
However, house and unit prices are expected to bottom out in spring and remain unchanged during the six months to December, with prices likely to stay at the June median of $520,000 for houses and $330,000 for units.
The report also says Perth house prices are anticipated to stay about 15 per cent below their 2014 peak.
Domain economist Trent Wiltshire said a rebound in Perth prices in 2020 was expected, but given the entrenched weakness in the market, only modest price growth of 0 to 2 per cent for houses and units was forecast.
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