The PropTrack Home Price Index Report for June 2024^ reports that Perth has maintained its streak of relative outperformance and remains the strongest market in the country for monthly (up 0.65%) and annual (up 22.52%) home price growth.
The city’s median home value is now $713,000, and tight supply coupled with strong buyer demand is fuelling the competitive conditions that have driven strong price growth.
The relative affordability of Perth homes, population growth and very tight rental markets are also supporting home values.
Across regional WA, home values rose 0.59% in June, taking the annual growth to 16.27%. The median home value outside of Perth is currently $504,000.
^ https://www.proptrack.com.au/home-price-index/
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