Rock­ing­ham house prices at pre- 2005 lev­els

Southern Telegraph - - NEWS - Pierra Wil­lix

Perth real es­tate prices are now the most af­ford­able in the coun­try, with one lo­cal agent say­ing Rock­ing­ham home prices are at their most af­ford­able in more than 10 years.

Hous­ing In­dus­try As­so­ci­a­tion fig­ures last month showed that Perth re­mained the most af­ford­able mar­ket of any of Aus­tralia’s cap­i­tal cities for av­er­age fam­i­lies.

The HIA’s quar­terly hous­ing af­ford­abil­ity re­port re­vealed that its in­dex of hous­ing af­ford­abil­ity showed Perth had im­proved 5.7 per cent over the past year.

Pro­fes­sion­als Rock­ing­ham di­rec­tor and sales ex­ec­u­tive Craig Small said homes in the Rock­ing­ham area were par­tic­u­larly af­ford­able.

“The cap­i­tal gains that were made dur­ing the WA min­ing boom have now dis­ap­peared,” he said.

“Prices have steadily de­clined over an ex­tended pe­riod and are now at lev­els not seen since 2005.”

Ray White Rock­ing­ham Bal­divis di­rec­tor Elsie Corby agreed, and said homes in the greater Rock­ing­ham area were at their most af­ford­able level in many years.

“Prices have soft­ened af­ter the end of the min­ing boom; and eco­nomic down­turn, espe­cially in the out­ly­ing Perth sub­urbs like ours,” Ms Corby said.

“De­spite this, buyer ac­tiv­ity has been on the in­crease in the past cou­ple of months as con­fi­dence is re­turn­ing to the mar­ket and the WA econ­omy is bounc­ing back.”

Mr Small said sales vol­umes were lower dur­ing 2018 than in pre­vi­ous years through­out the metropoli­tan area, and this was also the case in the Rock­ing­ham area, but 2019 had started off well, with a sub­stan­tial in­crease in buyer ac­tiv­ity dur­ing Jan­uary.

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