According to REIWA quarterly figures, the median house price at December 2011 was $462,000 up from $450,000 in September. REIWA reported that the average number of selling days peaked in September at 79, falling slightly to 77 in December, this report showed down sharply on the market.
Although, this past year, there was a decline in residential prices but based on the survey, the Perth median price has stabilized and started to record growth in the past quarter, but the rent may increase because of the tight rental market and oversupplied of house that put pressure on rental levels. Median house rents showed $425 a week as at December, up from $380 a week the previous year. It showed that median house rents continue to increase and expected to continue increasing.