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Perth property prices 'will continue to rise'

The latest SQM Research report predicts continued growth Perth house prices, although at a lower level than previously forecast.

Property prices in Perth will continue on an upwards curve over the next 18 months, it has been predicted.

The latest SQM Research report forecasts between four and seven per cent in growth in the Western Australia capital during 2013 and 2014, reports Property Observer.

Last September, when the firm made its previous prediction, it anticipated a growth rate of between six per cent and 13 per cent.

And while SQM Research has made a downwards revision to this earlier estimate, it expects Perth's housing market to remain in positive territory.

Louis Christopher, managing director and property analyst at the firm, noted that falling interest rates are helping to sustain growth in the Perth market.

However, he warned that the downturn in the mining sector is having an impact on demand for rental properties.

Even so, Mr Christopher said the chances of falling prices in Perth this year or next are "very remote".

"I strongly believe the mining downturn will be buffered by a falling Australian dollar,” he added.

Posted by Craig Francis

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