House prices drop 1.5%

Perth housing prices have continued to decline, with new indicative data showing prices have dropped 1.5 per cent for the month of April.

The RP Data/Rismark International figures showed that while housing values continued to fall in Perth, national figures increased by 8.2 per cent for the year ending April 2008, with 21.8 per cent growth in Adelaide topping the country.

While the median house price in Perth was the third highest in the country, behind Sydney and Canberra, data showed prices fell from $502,943 to $495,448 in April.

In the year ending April 2008, figures show housing prices in Perth have fallen by 1.3 per cent, the worst growth result nationally.

Previous data from Real Estate Institute of Australia showed that the median house price in Perth had fallen 1.1 per cent for the year ending March 2008.