16th March 2017
The Perth housing market has been in a recession for the past three years and has lost about 15 per cent in post-inflation real terms since the peak of mining boom activities in early 2007.
Figures produced by the Real Estate Institute of WA indicate the property market may have stabilised in the December quarter and the talk is now turning to when the market will begin picking up again.
The latest hope for a revival of the WA property market is talk that Chinese investors are eyeing the west coast after being priced out of the white-hot Sydney and Melbourne property markets.
Responding to the December quarter figures, land developer and 45-year-plus property industry veteran Nigel Satterley tipped Perth was still 12 to 18 months from reaching recovery mode.