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Perth house values stagnate as Sydney soars

This year’s slide in Perth house values has been arrested but home owners are still going backwards on their investments, according to new figures.

March House values in the city were static during March, the CoreLogic-RP Data figures reveal.

Values for houses have fallen by 2.9 per cent in the past three months and have increased just 0.2 per cent over the past 12 months.

After inflation, however, values for homes in the city have fallen by close to 2 per cent over the full year.

It’s a tougher story for owners of units despite a 0.1 per cent lift in value in March.

Unit values have dropped by 0.8 per cent since the start of the year and 2.8 per cent over the past 12 months.

It’s a different story in Sydney where low interest rates have helped to increase prices.

Sydney house values jumped by 3.1 per cent in March to be 6.2 per cent up since the start of the year.

Over the past 12 months, Sydney house values have climbed 14.9 per cent.

Across the rest of the country, values are either falling or tracking inflation.

Perth is the worst performed capital in the country.

Head of research Tim Lawless said that even with the jump in Sydney values the national rate of growth has fallen to its lowest since September 2013.

“Clearly the vast majority of growth in dwelling values can be attributed to a very strong Sydney market that is largely fuelled by investment demand,” he said.

“The interest from investors is understandable, with housing currently offering up strong capital gains.”