Your house makes more money than you , with the average West Australian making $2,000 in wages in the last three months – and their homes making almost double, according to two sets of data. – MASHAHER

The average Western Australian made about $20,000 in wages in the past three months but their homes doubled that as Perth’s property market continues its unrelenting rise.

The latest CoreLogic figures show Perth values grew 6.1 per cent in the three months to May — adding about $45,000 to the median priced home of $736,000. Properties in regional WA are up 5.1 per cent over the quarter.

It was the biggest increase in Australia over the three months to June, followed by Adelaide (4.3 per cent) and Brisbane (3.9 per cent). Sydney property grew by 1.2 per cent while Melbourne prices went backwards, down 0.2 per cent.

CoreLogic Head of Research Australia, Eliza Owen said the mismatch in supply and demand was driving the increases, with values up 22 per cent over the year 12 months and 14.8 per cent in regional WA.

“At one end of the spectrum is Perth, with total listings sitting -45 per cent below average stock levels, and a monthly capital growth rate of 1.8 per cent,” she said.

“At the other end of the spectrum is Hobart, where there are 39.5 per cent more listings than the historic five-year average for this time of year, and home values are 0.5 per cent lower.

“The additional choice in stock across areas like Victoria and Tasmania means vendors have to bring down their price expectations, and that brings values down.”

The report found that cheaper homes — those priced in the lowest quarter of all dwellings — sustained the biggest increase, with an 8 per cent jump in prices over the three-month period.

The most expensive quarter had the modest increase of 4.6 per cent.

The national median time on market in the three-month period remained unchanged from last year at 31 days, while the listing period for a property in blink-and-you-miss-it Perth to just 10 days, down from 15 days this time

CoreLogic’s latest report shows the residential property sector is worth $10.7 trillion nationwide, compared to $3.9t superannuation sector and $1.3 billion commercial property sector.

Average ordinary-time earnings in WA are $2107 per week.