Perth’s Median Home Value Surpasses Melbourne for the First Time in a Decade.
Full Article: CLICK HERE
Despite Melbourne leading monthly gains, Perth’s median home value of $787,000 has overtaken Melbourne’s at $782,000 for the first time in a decade. This reflects Melbourne’s relative weakness compared to Perth’s persistent outperformance in recent years and affordability-driven demand.
RBA Cuts Interest Rate Amid Cooling Inflation
On May 20, 2025, the Reserve Bank of Australia (RBA) reduced the official cash rate by 25 basis points, bringing it down from 4.10% to 3.85%. This marks the second rate cut this year, reflecting the central bank's response to easing inflation and a weakening global economic outlook .
The RBA's decision comes amid a decline in inflation, with the March quarter showing a 2.4% headline inflation rate and a 2.9% underlying inflation rate, aligning with the RBA's target range of 2–3% .
Banks P...
Changes to First Home Buyer Duty Assessment
The Western Australian Government has announced significant changes to the First Home Owner Rate (FHOR) of duty and the Off-the-Plan Duty Concession, effective for transactions entered into on or after 21 March 2025. These adjustments aim to make homeownership more accessible for first-time buyers.
Click Here for more information: External link to wa.gov.au site
Perth Housing Market Update | April 2025
Perth's Housing Values are virtually unchanged since October 2024.
RBA’s data shows mortgage pain for thousands of West Australians
As this article is behind the paywall, I will do a quick summary of it here.
Recent data from the Reserve Bank of Australia (RBA) reveals significant mortgage stress among Western Australian (WA) homeowners. Here's a breakdown of the key points:
- High Mortgage Burden: The RBA classifies 9.8% of WA borrowers as having a high mortgage burden, indicating that a substantial portion of homeowners are allocating a significant share of their income to mortgage repayments.<...
REIWA reports Perth's median prices continue their upward trend
REIWA reports Perth's median prices continue their upward trend
Perth’s Crime Hotspots Revealed: Which Suburb Topped the List in 2024?
As crime rates surge across Perth, new data reveals the suburbs hit hardest in 2024. The CBD remains the most crime-ridden area, with thousands of reported incidents, while Northbridge and Midland also saw alarming spikes. Theft, property damage, and car break-ins are on the rise, leaving residents concerned about safety. Authorities point to economic struggles as a driving factor and are ramping up efforts to curb the trend. What’s behind this crime wave, and what can be done to turn the tide?
Click the link below for the full article:
When will your bank pass on the rate cut?
Now that the RBA has cut the cash rate by 0.25% to 4.10% on 18-02-2025, the key questions are:
- How much will your bank pass on? and
- When will your bank pass on the rate cut?
Below is a chart of financial institutions that have announced their plans.
* Chart from: https://www.rba.gov.au/statistics/cash-rate/
* Table tabulated from: https://www.savings.com.au/news/rba-rate-cut-february-2025#anz
Continue reading
The Reserve Bank of Australia has cut the official cash rate from 4.35 to 4.10 per cent. (Effective 19-02-2025)
The Reserve Bank of Australia (RBA) has lowered interest rates for the first time in four years, reducing the cash rate to 4.1%.
This decision follows a period of holding rates steady at 4.35% since November 2023—the highest level in 13 years.
The Australian Government is tightening restrictions on foreign purchases of existing homes and land banking.
16-02-2025
The Albanese Government is introducing stricter measures to address Australia’s housing crisis by limiting foreign investment in residential properties. From April 1, 2025, to March 31, 2027, foreign investors will be banned from purchasing established homes, with few exceptions. This aims to increase housing availability for Australians.
Additionally, the government is cracking down on land banking, where foreign investors buy vacant land but delay development for profit. ...
Perth weekly market snapshot for the week ending 9 February 2025
Perth weekly market snapshot for the week ending 9 February 2025
(https://reiwa.com.au/the-wa-market/perth-metro/)
Sales transactions in Perth last week were up 20.9 per cent on the previous week, with REIWA members reporting 970 transactions. A closer look shows house sales were up 17.3 per cent compared to the week prior, unit sales were up 16 per cent and land sales were up 71.2 per cent.
Top performing suburbs – sales
Baldivis – 21
Perth – 19
...