Dr Wilson calls first of many bottoms for Perth property

Friday, 23 October 2015

As I noted recently, Dr Andrew Wilson of Domain will tell you to buy property as the concrete is poured over his and the market’s dead face. Never has this been better illustrated than today:

Perth house prices have endured their sharpest fall since June 2011, but property pundits say the continued decline in growth may end next year.

The latest Domain House Price Report shows the median house price in Perth fell by 2.4 per cent in the September quarter to $589,100. It is the first time the median has gone below $600,000 since the the same quarter in 2013.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.