Dwelling values in Perth, unlike other capital cities, have fallen in 2019. As of January 2020, in regards to dwelling values, we’ve seen an annual drop of 7.7% and a smaller drop of 1.4% over the past decade. The median dwelling price in Perth is sitting at $437,080, with median house values at $453,393 and median unit values at $352,154, which are lower than in previous years and lower than any capital city right now.
It’s good news for investors, with rental rates and yields as of January 2020 showing an increase; weekly rent has risen to $350 for houses and $360 for units. The gross rental yields are slowly climbing from previous years, up 4.2% for houses and 5.1% for units.
The average number of days on the market for sale properties has remained unchanged over the last year with the average as of January 2020 being 51 days, the same as 2019.