Perth apartment values collapse to pre-mining boom levels

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By Leith van Onselen

The epic fall in Perth property prices has pushed apartment affordability to 2004 levels, according to Perth Now:

Comparing average weekly income figures to median unit prices reveals apartments in Perth are at their most affordable since 2004, before the start of the mining boom.
Average unit prices across the metropolitan area have tumbled 10 per cent from a peak of $450,000 in 2014 to now sit at $405,000.

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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.