{"id":19117,"date":"2019-05-28T10:05:30","date_gmt":"2019-05-27T22:05:30","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=19117"},"modified":"2019-05-28T10:05:30","modified_gmt":"2019-05-27T22:05:30","slug":"how-did-perth-property-prices-get-to-this-point-and-will-they-turn-anytime-soon","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/how-did-perth-property-prices-get-to-this-point-and-will-they-turn-anytime-soon\/","title":{"rendered":"How did Perth property prices get to this point, and will they turn anytime soon?"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0Perth&#8217;s property boom came at the time of a price decline in Sydney and Melbourne.\u00a0<span class=\"photographer\">Photo:\u00a0iStock<\/span><\/strong><\/p>\n<p class=\"first-para\">Perth, once the most expensive city for houses in Australia, is in the midst of its longest and steepest downfall price decline in two decades.<\/p>\n<p>In fact, the Perth price downturn started in five years ago in 2014 and it\u2019s continuing today. Why is that, and is there an end in sight?<\/p>\n<p>Perth prices soared in the three years to 2006, with an incredible cumulative climb of 94 per cent. In the same time period, Sydney prices fell 6 per cent, said Bankwest chief economist Alan Langford.<\/p>\n<p>\u201cPerth\u2019s housing affordability crisis was at its worst several years before prices in Australia\u2019s two most populous cities started to race well ahead of the household incomes available to service the bigger mortgages that come with steeply rising prices,\u201d he said.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.domain.com.au\/news\/how-did-perth-property-prices-get-to-this-point-and-will-they-turn-any-time-soon-836524\/\">DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0Perth&#8217;s property boom came at the time of a<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/how-did-perth-property-prices-get-to-this-point-and-will-they-turn-anytime-soon\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":19118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478098519,478098535,478098954,478102985,478098543,478105408,478100946,478098513,478101743,478099125,478098873,478098579,478098511,478098509,478098724],"class_list":["entry","author-data123nz","post-19117","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-home-ownership","tag-house-prices","tag-housing-affordability","tag-mining-boom","tag-mortgages","tag-perth-prices","tag-perth-property","tag-property","tag-property-correction","tag-property-crash","tag-property-investment","tag-property-market","tag-real-estate","tag-real-estate-news","tag-wa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How did Perth property prices get to this point, and will they turn anytime soon? 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