Prices are down so where are Perth’s property bargains?

via @The West Australian

Real Estate Institute of WA President Hayden Groves said the mining downturn had had a big impact.

Four years ago 1500 people a week were moving to WA, that’s now dropped to just 150 a week.

Across Perth in the past year, the median house price has fallen by 4.8 per cent.

Since the peak in 2014, the reduction is more like a 6 per cent.

In Melbourne, prices have increased by 8.2 per cent in the past 12 months.

The list of Perth’s cheapest suburbs is dominated by the south – three suburbs now have a median price of $300,000 or less.

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