Perth Property Market Report – July 2022

The Perth property market continues to show no sign of abating standing in stark contrast to the east coast which is showing signs of stagnation and decline. Presenting massive opportunity for inventors through proven strong rental yields.

Nationally, housing market conditions have been weakening over the last year since a peak in March 2021. Corelogic’s Research Director Tim Lawless observes;

“There’s been significant speculation around the impact of rising interest rates on the property market and last month’s increase to the cash rate is only one factor causing growth in housing prices to slow or reverse,” he said.

“It is important to remember housing market conditions have been weakening over the past year, at least at a macro level.”

“Since then (March 2021), housing has been getting more unaffordable, households have become increasingly sensitive to higher interest rates as debt levels increased, savings have reduced and lending conditions have tightened,” he said.

“Now we are also seeing high inflation and a higher cost of debt flowing through to less housing demand.”