Perth's median house price will hit $1 million in the next 10 years, a property price monitoring group predicts.
A review compiled for the Sunday Times newspaper by Australian Property Monitors has tipped the median house price in many Perth metropolitan suburbs to hit $1 million within five years.
Within 10 years, only a "handful of suburbs in the Perth metropolitan area will have a median house price below $1 million", the Sunday Times reported.
Western Australia's house values could be the highest in the country, according to the paper, as the state rides another expected resources boom in the next decade.
The median house price in Peppermint Grove, which lies on the Swan River, just outside the Perth CBD, was predicted to reach more than $25 million in the next decade.
But while the prospect of housing prices doubling in the next 10 years was good news to some property buyers, the paper said first-home buyers were increasingly being priced out of the market.
source: Business Spectator .......... Similar to the article in todays Sunday Times (perth)
This is almost laughable if it wasnt for the people that are going to be screwed over for buying 'in fear of missing out' FHOG is a joke i forget the source but something like 20% of first home buyers are already in arrears by 2months +.
what these observers do is linearly fit a line onto some data and draw it to infinity. It doesnt work like that.. imo
