Perth – where houses are ‘cheaper to buy than rent’
For the first time in 28-years, Perth is the most affordable city to purchase a house.
Data released by Domain shows Perth’s median house price is up to a six year high of $595,000 but it’s not enough to keep pace with other major cities.
Property analyst Gavin Hegney told Liam Bartlett while the news is good for buyers, it’s not so good for sellers.
“If you’re selling and you’ve held onto property for the last five or six years, you’ll probably be in a world of pain.
“Especially if you’re an investor.”
Mr Hegney said he has noticed some houses for sale where it would be cheaper to buy than rent.
“That’s the space the Perth market has found itself in in some places.”
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