Business News
Perth’s median house price is continuing to rise at a faster rate than other Australian cities, with a 2 per cent gain in January to more than $960,000.
Cotality’s latest home value index shows that median values in the Western Australian capital reached $961,898 last month.
The city’s rate of growth well exceeded the national average of 0.8 per cent and was followed by Brisbane (1.6 per cent), Darwin (1.5 per cent) and Adelaide (1.2 per cent).
As Cotality research director Tim Lawless pointed out, the rate of growth in Perth’s home values had softened from its cyclical high of 2.9 per cent month-on-month recorded in November last year.