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From BS:
House prices in Perth’s most expensive suburb, Peppermint Grove, have fallen 19.4 per cent to $2.9 million in the year to September, the latest Real Estate Institute of Western Australia (REIWA) figures show.
House prices in neighbouring Mosman Park fell 5.4 per cent to $1.32 million on an annual basis while the nearby beachside suburb of Cottesloe recorded a 2.7 per cent decline in its annual median price to $1.8 million.
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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.
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