Perth Real Estate- Perth WA has seen a remarkable boom in the real estate market due to more than just the national property boom. The global demand for mining resources has given Perth and the Western Australian economy as a whole a major boost. This demand driven largely by China looks set to continue for the foreseeable future and large numbers of people have relocated to Perth in search of employment. Perth median house prices are at the $500,000 mark and have continued to rise while other Australian cities have slowed. The demand for rental properties is very strong given the growth and demand situation.
About Perth - The City is located on the Indian Ocean in the state of Western Australia (WA). Perth is the capital of Western Australia and is Australia’s fourth largest city with a growing population of about 1.5 million.
Perth Sep quarter median % change
Jun 07 – Sep 07 % change
Sep 06 – Sep 07
House Price $455,000 +0.7 +3.4
House Rent $300 pw 0.0 +15.4
Unit Price $370,000 +2.8 +8.8
Unit Rent $290 pw +3.6 +20.8
Vacancy rate 2.5 +0.4 +0.4