Preliminary data by the Real Estate Institute of WA suggests Perth's housing market was flat-lining in the December Quarter of 2007, with no movement either up or down for the last three months of last year.

However, REIWA President Rob Druitt said he expected the data to show a small overall increase once final settlements are processed.

Real estate agents and property mangers are urging prospective tenants to be patient as the annual rental crush resurfaces in Perth.

President of the Real Estate Institute of Western Australia, Rob Druitt, said seasonal factors and the low vacancy rate for accommodation was causing stress with many over worked agencies struggling to keep up with enquiries.

Specialist direct property funds management group Ray White Invest and private retail developer Blair Group today announced the joint acquisition of the Currambine Marketplace in Perth from Woolworths Ltd for in excess of $50m with proposed expansion plans to significantly increase the value of the property.

The Real Estate Institute of Western Australia has questioned the methodology and sales figure used in a recent international survey which claims Mandurah to be the most unaffordable city in Australia.