According to RP Data released today, Perth has received the wooden spoon amongst all the capital cities in Australia, with the real estate prices in last three months to October dropping by 3.8%. Canberra, Darwin, Sydney and Melbourne all recorded rises. These figures do not even factor in the following November rate rises which should put further downward pressure on housing prices in the coming figures. Perth unit prices have also dropped 3% in October.
So when do first homebuyers start to come back into the market? As a typical first homebuyer, these price drops have not inspired me to start looking just yet. What about you?
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