as posted here
The city of Perth in Western Australia is seeing its property market bounce back after a recent slump, it has been stated.
Perth went from being one of the cheapest places in the country to being more expensive than Sydney by 2006, valuation manager at Propell National Valuers Travis Coleman told the New York Times.
This boom was followed by a 12 per cent slump in prices, but the paper noted that the market in the city is now recovering, aided by the development of new mineral and gas projects in the state.
It observed that the average price in the city for a home is now AU$375,000 (£202,000).
The best place for those moving abroad to buy in Perth is the suburb of Bassendean, according to St George Bank.
In a list of the top locations in the country for value, the lender said it is "one of the few suburbs within the inner ring which still has a median house price below AU$500,000."
The other district it recommended in the city was Thornlie, due to its combination of affordability and proximity to amenities.
Written by Jamie Musk
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