Perth Real Esate Slumps
Sunday May 17, 2009
Perth suburbs with a median price of over $1million has fallen from 152 to 134 in the past year.
In Western Australia suburbs such as South Fremantle, Sorrento, Rossmoyne, Ardross, Shenton Park and Cottelsoe have fallen out of the $1 million-and-over range.
The Perth suburbs of South Fremantle, Ardross, Rossmoyne and Cottelsoe recorded Australia's largest falls in median price over 12 months, with Ardross recording the largest fall in price of all Australian suburbs by 26.4 per cent from $1.05million to $772,500.
In comparison, New South Wales experienced the greatest drop where there was a nine per cent drop in its elite suburbs - that's eight suburbs, including Willoughby, Lane Cove, Naremburn and Malabar.
However, Queensland and South Australia had a net gain of $1 million plus suburbs of one each, according to RP Data Reports.
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