Why you should buy a house in Perth, Australia
The cost of living in Perth has fallen for the fourth consecutive year.
According to new figures from the Australian Bureau of Statistics, the average house price dropped 4.2 per cent over the past year, while wages fell 1.4 per cent.
The price index also fell in Victoria, while inflation was still high at 3.5 per cent in the state.
In Queensland, the CPI fell 0.2 percentage points, while in Western Australia the index fell 0 .7 per cent, while unemployment rose 0.4 percentage points.
The average house in WA rose by 4.4per cent in 2017, the latest data released by the state’s Department of Planning and Infrastructure showed.
That is an increase of 4.9 per cent compared with the previous year.
The most expensive property in Perth was the former Bunnings Building on the corner of Queen St and Queen St, which was sold for $2.6 million in April 2019.
It has now been sold to a local family, and the property has been put on the market for $1.5 million.
Bunnings was originally constructed in 1867.
The building was sold in 1993 for $5.2 million.
It is currently owned by the City of Perth.
A new building was recently completed in the same location, which will become the former Royal Australian and Australian Museum.
If you or someone you know is struggling to make ends meet, consider getting a mortgage from a local bank or a credit union.
They can help you pay down your mortgage, and provide you with some extra cash to spend.
To find out more about the Australian housing market, visit the ABI website.