Ray White Keevers Group Coastal

Perth remains the strongest market in Australia with house prices up 15.3% over the past 12 months and 0.6% up in January 2024. Perth's population growth (up 3.1% in the year to June 2023) thanks largely to employment opportunities as well as our more affordable housing market are major factors contributing to Perth's strong sales growth. Looking forward in 2024 it is forecasted that Perth house prices are set to grow 10%. The State Government has revised its population growth anticipated for 2024 increasing this to 2.4% by June 2024. Based on this figure, the shortage of new builds and the challenging rental market, the demand for established homes will be high and with low supply of properties, we can only assume that this should make for a competitive market and push the price growth further this year. To make the most of market conditions - as always, I recommend, getting in touch for tailored advice to suit your situation. MARKET TALK Median Growth By Capital City - January 2024 Perth Adelaide Darwin Brisbane Canberra Sydney Hobart Melbourne Australia 15.3% 9.6% 9.0% 9.0% 6.2% 5.8% 5.4% 4.0% 7.8% *Source: Neoval Ben Keevers -