Perth moves towards all-time HIGH median house price

The median value of a Perth dwelling is tracking towards a new all-time high.

Amid Australia’s dramatic price slowdown and interest rate hikes, new data from PropTrack shows the median price house hunters are looking at for a home or unit hit $537,000 in June – up 0.12 per cent for that month.

That level is just shy of the Perth’s record high of $540,000, set in mid-2014, according to PropTrack estimates, before significant falls over fears the mining investment boom was over.

The June data, reported by The West Australian, revealed Perth property’s resilience as other major cities lost ground.

While Australia’s residential property market is having its sharpest price slowdown in 30 years after colossal growth in 2021, Perth values keep inching up. Credit: The West Australian

While Adelaide (June growth of 0.42pc), Hobart (0.26pc) and Darwin (0.08pc) were up, Sydney was down 0.40pc and Melbourne lost 0.61pc.

Since the beginning of the COVID pandemic in March 2020, Perth dwelling values have rocketed north by 27.1 per cent.

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