State of the union

Sunday, 25th May 2014

WA buyers need six times their annual household income to afford the median house in Perth. RP Data research shows the cost of a median dwelling in Perth has risen from three times the median annual income in 2001 to six times the income in 2011. However, figures show the market has slowed slightly from 2013’s strong dwelling price growth and experts are predicting slower growth conditions to persist in Perth. Further dampening of capital gains could occur when the construction boom hits, with a flood of new houses and units being approved in parts of Perth which may see oversupply in some areas.