PERTH homeowners are being told the city’s property market will turn positive in the new year despite fresh figures showing another fall in prices.

The Australian Bureau of Statistics found Perth prices dropped another 1.6 per cent in the three months to the end of September, taking the annual loss to 4 per cent.

It was the seventh consecutive quarter that annual price growth in Perth was negative, a record for the city, taking prices to where they were in early 2013.

Price growth also slowed nationally, up 1.5 per cent in the quarter to be up 3.5 per cent over the year.

QWest Paterson chairman Warwick Hemsley said there were positive signs ahead for WA.

Mr Hemsley said the lower Australian dollar was boosting sectors such as education and tourism that would underpin the local economy.

“Our exports are benefiting from a more competitive market, while the local tourism industry also benefits as international travellers look to Australia for a cheaper holiday and locals choose to remain at home rather than go abroad,” he said.

“International education is also booming across Australia as our third-biggest earner.

“Perth is not missing out in this area as our local universities have experienced a significant intake of international students in recent years.”

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The fall in prices in Perth was making the city more attractive to investors from other parts of the country who had faced rocketing prices in areas such as Sydney and Melbourne.

Those investors may have more confidence than local businesses, with the NAB’s monthly survey showing a further fall in sentiment and trading conditions among WA firms.

The survey also found a drop in trading conditions across the country, to their lowest level since April last year.

NAB believes the Reserve Bank will have to cut official interest rates by another half a percentage point in the next 12 months.