Property price gains for the more expensive properties in Perth have slowed down, with the latest data confirming their value was rising slower than properties on the lower end.
CoreLogic analysis compares the most expensive 25 per cent of homes and the cheapest 25 per cent. In Perth, the cheapest homes were those under $706,980, whilst the most expensive were those over $1,064,421.
But property owners in WA don’t have to worry too much (and buyers still might have too) given other capital cities recorded price drops across their most expensive homes.
CoreLogic head of Australian research Eliza Owen said buyer demand has been dropping at the higher end of the market amid higher interest rates and elevated inflation.
She thought the trend was unlikely to change until there is a shift in interest rates or change in economic conditions.
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