Property values up in just one Perth region

Stock image.
Stock image.

CORELOGIC has shared the capital city regions* that recorded the strongest and weakest annual change in values in the 12 months to April 2019.

With dwelling values falling since mid-2014, and down a further 8.3 per cent in the year to April, there was little good news for the Perth market.

Of the five best performing regions, only one, Malaga, saw values increase, up 0.4 per cent over the reporting period.

The next four top performers recorded the most moderate declines and were all located either north-west or north-east of the city.

They were Carramar (-2.2 per cent), Lockridge-Kiara (-2.3 per cent), Tapping-Ashby-Sinagra (-2.6 per cent) and Gidgegannup (-2.7 per cent).

The five regions with the largest falls in value over the year were in either Perth’s south-west or Mandurah.

Winthrop recorded the biggest decline at -17.4 per cent, followed by Mandurah-East (-15 per cent), Bullcreek (-14.3 per cent), Falcon-Wannanup (-14 per cent) and Coolbellup (-13.9 per cent)

Research analyst Cameron Kusher said with dwelling values falling broadly across the capital cities, there were still some precincts where values were continuing to trend higher, although the list of positive growth areas had shrunk over the past year.

“Looking to the data there is some suggestion that in individual cities certain geographic areas and value points are more likely to still be seeing values increase than others,” he said.

* Regions generally have a population size of between 3000 to 25,000 persons with an average of 10,000 persons. In the metro area, a region is roughly the size of a suburb or a combination of several suburbs.