Posted on Thursday, December 2nd, 2010 in by Matt Garmony
Analysts research has indicated Perth’s house prices have continued to fall in October 2010, being the weakest performing Capital City in Australia, falling 1.8% in October and 3.8% over the pervious three months. Other reports have indicated new home building starts have also been falling, which in our opinion, is due to reduced consumer confidence in the global economy, rising interest rates, and uncertainty future interest rate rises. Our forecast is for similar property market conditions in the short term.