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Joined: 14/4/2008
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 Perth property prices fall 2.7%
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Analysts say falling house prices in Perth may be a sign of things to come as rising interest rates and sharemarket turmoil take their toll across Australia, The Weekend Australian Financial Review reports.
Preliminary data released by the Real Estate Institute of Western Australia showed the median Perth house price fall 2.7 per cent to $457,000 in the March quarter, the paper reports.
The 2.7 per cent fall was the Perth's largest since September 1998, and follows a year when its property prices grew only 1.1 per cent.
Westpac senior economist Matthew Hassan said Melbourne's property market was the most vulnerable this year, while Macquarie Bank head of property research Rod Cornish said rising interest rats would place even more pricing pressure on Sydney's outer suburbs.
Fnid out London Property Information
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