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Perth property leads nation, set for double-digit growth this year
Perth property leads nation, set for double-digit growth this year 24 February 2021 Matthew Hughes Article by: Martin Kelly, Property Reporter Source: Australian Financial Review February 24, 2021 After years in the doldrums, Perth’s property market has emerged as the nation’s strongest with two separate reports pegging the West Australian capital as the national market leader in price growth. In its Australia Real Estate Market Outlook Report, released yesterday, CBRE predicted Perth houses this year would increase in value by between 9 per cent and 12 per cent, and unit prices would rise 5 to 7 per cent. Perth house prices are set to soar in 2021 after years in the doldrums. iStock CBRE said Brisbane and Sydney house prices also would outperform, growing 7 to 10 per cent. More moderate but still impressive growth is anticipated in Adelaide and Canberra, where house prices are forecast to increase 5 to 7 per cent. Melbourne is expected to have a more subdued recovery, with house prices up 3 to 5 per cent. House price rises will far outstrip those of units in all markets. Strong economic performance in Western Australia is the main driver of rising house prices in Perth, said Craig
Perth’s property market has emerged as the nation’s strongest with reports the West Australian capital as the national leader in growth