News

State of the market – some interesting statistics!

By Shelley Bakhuizen

House prices have continued to grow in all but two of Australia’s capital cities, according to the latest state of the market report from Domain.

Brisbane and Perth were the only two cities to record a decline in house price growth for the June quarter.

“Most capital city housing markets – in particular, Hobart and Darwin – have recorded strong growth over the winter months, despite the driving force of last year’s interest rate cuts starting to wane,” Domain’s chief economist Dr Andrew Wilson said in the report.

Here’s the latest median house and unit price for your capital city:

Sydney

Houses: The harbour city has maintained its mantle as Australia’s most expensive city, with a new median house price of $1,178,417, up 1.6 per cent over the quarter and 12.7 per cent over the year.

Units: Sydney has also had the strongest year-on-year growth in unit prices, up 10.5 per cent annually to $757,991.

Read the full story here

Melbourne

Houses: Melbourne’s median house price has hit a new peak at $865,712, up 3.5  per cent for the quarter and a whopping 15.1 per cent annually.

Units: There was also an increase in the city’s median unit price to $474,848.

Read the full story here

Brisbane

Houses: One of just two cities to experience a decline, the median house price in Brisbane is now $546,043, down 0.1 per cent, but still up 3.1 per cent annually.

Units: The median price for Brisbane units also continues to fall, down 5.5 per cent for the quarter to $375,269.

Read the full story here

Perth

Houses: The other city to record a decrease over the quarter, Perth’s median house price is now $555,788, down 1.8 per cent.

Units: There was an increase in Perth’s unit prices though, up 1.1 per cent to $377,823.

Read the full story here

Canberra

Houses: The capital city’s median house price saw another quarter of growth, up 3.9 per cent to $723,299. The median house price has now increased by 8.9 per cent annually.

Units: In the Canberra unit market though, prices have continued to fall, down 2.9 per cent to $403,128. Canberra’s unit values are now at their lowest point since the 2009 December quarter.

Read the full story here

Adelaide

Houses: The city of churches’ median house price was up just 0.9 per cent for the quarter to $524,968, but year-on-year it is up 6.6 per cent – the highest annual rate since June 2010.

Units: Adelaide’s unit prices also increased 0.9 per cent over the June quarter to $312,346.

Hobart

Houses: The median house price for Australia’s most southern capital city has now tipped over the $400,000 mark for the first time, up 4.3 per cent in the quarter to $404,522.

Units: Hobart’s unit price was also up 3.8 per cent to $310,854.

Darwin

Houses: Darwin’s median house price continued to increase, up 12.2 per cent annually and 6.1 per cent over the quarter to $666,686.

Units: It was a different story in the unit market though, with the median unit price declining 13.4 per cent to $351,880 over the June quarter.

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