The Real Estate Institute of Western Australia does not support the recent interest rate rise by the Reserve Bank, believing it will adversely impact on first home buyers.

Perth's resilient property market has bounced back from its modest slump in June, showing 2.4 per cent growth in price for the September quarter.

Data released today by the Real Estate Institute of Western Australia, is expected to show the current median price of $450,000 for the June quarter climbed to around $460,000, up by about $10,000 and marginally below the $465,000 median reached in the March quarter.

This year REIWA held its annual Awards for Excellence presentations at the gala dinner for the Insight Conference.

President of the Real Estate Institute of Australia, Mr Graham Joyce, presented the awards which give official recognition to the property industry's top performers.

There are 14 overall categories, but the judges are not obliged to choose a winner in each category if they feel the relevant criteria has not been fully met by nominees.

Reports out this week that property taxes have already smashed Treasury's May budget forecasts, come as no surprise to the Real Estate Institute of Western Australia.

Treasury forecasts predict that property-related tax collections will rake in a staggering $2.04 billion from the 2005-06 financial year. This is up from $1.8 billion on previous estimates.