Annual House Price decreased in Perth

Perth house prices fell by 4.1% across the year June 30, according to the Australian Bureau of Statistics. A recent article in the Australian also noted that this was the largest through the year decrease since the March quarter 2009 (-7.0%) and the ABS reveal that Perth was the only capital city not to record an improvement in falling house prices during the June Quarter. Although Perth showed no quarterly movement in the December quarter 2010, it is still affecting the decreasing of house prices in which was the result of increase in Melbourne and other cities. Even Perth alone experienced a drop with a house prices falling by 2.0% during the year, still believe that many developers are starting to look Perth because land prices have seen some fairly significant falls.