Perth’s current property growth tracking almost twice as high as previous cycle
The Perth market recovery is tracking at an average growth rate of 0.9 per cent per month, which is almost double the average growth rate recorded during the 2011-14 growth cycle of 0.5 per cent.
REIWA President Damian Collins said Perth’s last growth cycle lasted 30 months and resulted in 15 per cent price growth.
“We are just 12 months into this current growth cycle and prices in Perth are already up almost 11 per cent, with the bulk of that growth occurring in the first six months of this year.
“For comparison, the total price growth recorded during the first 12 months of the previous upcycle was six per cent,” Mr Collins said.