Perth Property prices 2025: Part Two

Gavin Hegney, Perth property analyst says the only way is UP

He believes the year ahead looks more like a 10 to 12 per cent growth but is on its way to being overvalued. We may see a flat period on the back end of this, which may not be a bust, but in real terms over a period of time, they might drop 10 or 20 per cent.

The emotional cycle of the market, that fear of missing out, paying above asking price and getting a property at any price, has already passed.

If interest rates fall, that’ll increase the borrowing capacity for the people who are looking to trade up, particularly in the mid-range, middle ring suburbs where houses are selling for between $1 million to $2 million.

Is now a good time to buy? There’s an end of cycle, tearaway boom happening in Perth relative to the rest of the country. This time, look at lessons learned from 2008 when Perth had the equal highest housing prices in Australia alongside Sydney.

You have to be careful what you buy. I searched 1000 properties in the $700,000 to $750,000 range and came up with 22 that I thought were good value for money. Three years ago, you probably would have come up with 900 that were good value for money.

WA Today:17 December 2024

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