In 2022 we saw the introduction of interest rate hikes and even with eight interest rate hikes in 2022 Perth's real estate market still rose 2.86% with the median house price increasing from $525,000 to $540,000. So why is this and what does it mean for Perth real estate in 2023? When you take into consideration WA's booming economy, low unemployment figures, continued population growth, low supply and high demand for housing and an average median house price that's approximately $400k-$500k less than Sydney and Melbourne it's not rocket science to predict we have a very robust and encouraging real estate future in front of us. In fact Perth still remains the most affordable capital city by median house price, and while prices have risen in the past two years, in many areas they are still below the previous peak in 2014/15. REIWA predicts the next 12 months is likely to show a moderate growth of between 2-5 % and based on current market expectations, interest rates are anticipated to have minimal impact on the WA market, in contrast to other states. With all this in mind aren't you glad you live in WA in 2023? Provincial Real Estate 'the home of new beginnings' insights & news What is the real estate market going to look like in 2023? In 2022 we saw the introduction of interest rate hikes and even with eight interest rate hikes in 2022 Perth's real estate market still rose 2.86% with the median house price increasing from $525,000 to $540,000. So why is this and what does it mean for Perth real estate in 2023? When you take into consideration WA's booming economy, low unemployment figures, continued population growth, low supply and high demand for housing and an average median house price that's approximately $400k-$500k less than Sydney and Melbourne it's not rocket science to predict we have a very robust and encouraging real estate future in front of us. In fact Perth still remains the most affordable capital city by median house price, and while prices have risen in the past two years, in many areas they are still below the previous peak in 2014/15. REIWA predicts the next 12 months is likely to show a moderate growth of between 2-5 % and based on current market expectations, interest rates are anticipated to have minimal impact on the WA market, in contrast to other states. With all this in mind aren't you glad you live in WA in 2023? Provincial Real Estate 'the home of new beginnings' approximately $400k-$500k less than Sydney an rocket science to predict we have a very robust a future in front of us. In 2022 we saw the introduction of interest rate hikes and even with eight interest rate hikes in 2022 Perth's real estate market still rose 2.86% with the median house price increasing from $525,000 to $540,000. So why is this and what does it mean for Perth real estate in 2023? When you take into considerati n WA's booming economy, low unemployment figures, continued population growth, low supply and high demand for housing and an average median house price that's approximately $400k-$500k less than Sydney and Melbourne it's not rocket science to predict we have a very robust and encouraging real estate future in front of us. In fact Perth still remains the most affordable capital city by median house price, and while prices have risen in the past two years, in many areas they are still below the previous peak in 2014/15. REIWA predicts the next 12 months is likely to show a moderate growth of between 2-5 % and based on current market expectation , int rest rates are anticipated to have minimal impact on th WA m rket, in contrast to other states. With all this in mind aren't you glad you live in WA in 2023? P vincial R al Estate 'the home of new beginnings' insights & news What is the real estate market going to look like in 2023? insights & news What is the real estate market going to look like in 2023?
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