Perth's property market thrives, but 70% of homes sell below value, unlike Sydney and Melbourne's slower sales.

Perth's property market is booming, but homeowners are often underselling their properties, according to property strategist David Kaity. Despite strong market conditions, Kaity believes that about 70% of transactions in Western Australia see homes sold below their true value. This trend contrasts with slower sales in Sydney and Melbourne due to higher asking prices. Meanwhile, Perth's rental market remains steady, with median weekly rents for houses at $650 and units at $630, up 5% month-on-month.

November 10, 2024
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