PHOTO: Perth has a lower median house price than Sydney and Melbourne. Photo: iStock
While Perth’s property market remains weak, investors are swooping in to take advantage of the city’s downward trend.
Lower prices and record low interest rates are offering the “perfect storm” of opportunity for buyers, according to Realmark real estate agent Daniel Sharp.
The Western Australian capital recorded a 2.4 per cent fall in median house prices over the past year, according to Domain’s House Price Report for the September quarter.
Unit prices are down 1.9 per cent from a year ago but did offer a glimmer of hope for the resources-affected market, ticking up 2.8 per cent over the three months to September.
READ MORE VIA DOMAIN