The ever popular holiday destination of Perth, laying at the entrance of the beautiful Swan River, has endured a minor median price drop in the housing market over the last year, though not all of the 2 million residents have experienced it. Inner northern metropolitan suburb, Mount Lawley, has experienced annual growth of around 8%, leaving median house prices at $915 thousand. This will likely continue to lower real estate fees in the area. Inland Ballajura, the northern suburb bordering the lush Gnangara Park, has been standing tall over the 12 month period, where the days on market average for houses has been 69 days.
There are no government regulations in place Western Australia, regarding real estate commission, allowing agents to adjust their rates and services according to the free market. Southern suburb, Salter Point, tucked into the Canning river, may follow trends of low real estate fees, owing to high property prices, as agents make their fee more easily through the sale. Small rural suburbs, like the quiet Pinjar in Perth’s north, will typically see higher real estate fees, as lower property prices and a comparative decrease in agent competition induce them to charge more liberally.
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