Median property prices approach $700,000

By |
The average median price for houses rose by 2.1% over the June quarter, according to the latest Real Estate Market Facts report released by the Real Estate Institute of Australia (REIA). Other dwellings’ median prices also rose by 0.4%.

Detached houses now have an average median price of $700,000, while the median price for other dwellings now sits at $545,000.

“The majority of capital cities recorded increases in the second quarter of the year,” said REIA president Neville Sanders.

Perth was the only capital city where the median price fell for both houses and other dwellings due to slowing population growth and decreasing market activity.”

Sydney continues to lead the country in terms of median property prices, which now sit at 46.5% above the national average. Adelaide also recorded relatively strong growth.

On the other hand, median rents across the majority of capital cities weakened.

“With Perth and Darwin having the highest vacancy rates, median rents in these cities fell markedly compared to 12 months ago. Rental markets in Melbourne, Brisbane, and Hobart appear to be balanced based on their vacancy rates at around the industry benchmark of 3%,” said Sanders.
 

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : reservoir , canterbury , willoughby east , mt gravatt , alderley

go back

Get help financing your investment



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here