House Prices Fall in Perth, Australia; Perth, Scotland, Sends a Message of Support and Asks if Anybody There Wants a Three-Bed Semi in Letham

By our Namesakes Correspondent

House prices in Perth, Western Australia, have fallen sharply, with property values dropping about 1.7% in October and sitting roughly $92,000 below their April peak, according to the property data firm Cotality.

Perth, Scotland, which was there first, has sent a message of sympathy.

“We’re thinking of you,” said a Bridgend estate agent. “We know what it’s like when things go a bit quiet. And if anybody over there is thinking of moving, we’ve got a lovely three-bed semi in Letham. It’s got a garage, a south-facing garden and a view of a hill. Not a beach, no. But it’s a good hill.”

A Kinnoull woman said she had a cousin in Perth, WA, who “goes on and on about the weather”. “Now she’s going on about her house price,” she said. “I told her, in Perth, Scotland, the value of my house has been steady for years. She asked what the weather was like. I changed the subject.”

Economists say the fall in Perth, WA, is linked to higher interest rates. Economists in Perth, Scotland, which is to say a man in the Twa Tams, say it is linked to “too many people sitting in the sun and not enough buying hot water bottles”.

The Perthetic wishes our Australian twin well. If things get really bad, there is a spare room above our office. It has a radiator and a small window, and on a clear day you can see the Tay.

The real story: Perth, WA house prices fall (The West Australian)