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Recent releases from the ABS have provided early evidence supporting my prediction that Perth housing is at the precipice, as explained in detail in last month’s member’s report.
Today’s house price release from the ABS revealed that Perth house prices declined by 0.3% in the June quarter, with annual price growth slowing sharply to just 3.6%. Meanwhile, the June quarter CPI release, released late last month, showed Perth rental growth slowing to just 0.5% over the quarter, with annual growth falling to a below-inflation 2.9%.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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