PHOTO: There have never been so many properties selling at a loss in Perth in history, with over a quarter of homes and half of units selling for less than their purchase price.
Perth property values have gone backwards while other Australian capital cities have experienced stability in the three months to the end of July, according to new data.
The figures released by Australian property data provider CoreLogic show that while the national dwelling value index found a floor last month, Perth prices dropped 2.2 per cent for the quarter.
The results were in stark contrast to Melbourne and Hobart, which both saw slight increases of 0.1 per cent.
While only a subtle rise in value CoreLogic head of research Tim Lawless said it was a positive off the back of a consistent trend towards smaller month-on-month declines through the first half of the year.
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