The recent deceleration in Perth's rate of population growth has led to falling rental rates and increased vacancies, particularly in apartments.
However, one area of the property market continues to rise. According to the HIA New Home Sales Report, new home sales grew 2.2 per cent in November. New home sales consisted of detached houses and multi-unit developments. The sale of multi-units experienced substantial growth, reaching their highest sales level since September 2003.