30.09.2008 - Perth property dip defies eastern rise
From Thewest.com.au: Perth house prices fell 0.8 per cent in August, defying a solid upturn in the rest of the country, according to new figures. But experts said the local market was reaching a turning point and would begin to post moderate price rises towards the end of 2009 on the back of lower interest rates, more affordable housing and strong population growth. Figures from property market analyst Australian Property Monitors show Perth is still suffering the hangover of 2006’s property boom, with prices falling 5 per cent over the past year. In contrast, house prices in the rest of Australia jumped 2.2 per cent in August and 2.5 per cent over the previous year. Sydney and Melbourne property markets led the charge, with house prices in both cities posting 3.1 per cent gains in August..... Full Article: Source
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