Capital city prices on the up

By |

Median house prices in five of Australia’s seven capital cities increased during the December quarter, according to recently released figures by the Real Estate Institute of Australia (REIA).

With every Australian capital except Perth and Canberra recording a quarterly house price increase, and other dwellings performing moderately, the weighted average capital city median price of the residential property market increased 2.4% over the quarter to reach $545,873, says the REIA.

The best performer for houses was Melbourne, which recorded a quarterly median price increase of 6.9% to reach $601,500, while Perth sits at the other end of the table at -1.8% ($480,000).

“Sydney, Melbourne and Darwin recorded the highest median house prices while the lowest were evident in Hobart, Adelaide and Brisbane,” said REIA president David Airey.

“The rate of house price growth slowed over the year and is approaching the ten year annual average of 6.1%. Compared to the same quarter of the previous year, house prices increased 6.1% nationally.”

When it came to non-house dwellings, the weighted average capital city median price increased just 0.8% over the quarter.

Darwin was the best performer for other dwellings, seeing a 6.4% increase to reach a median price of $438,000, while Canberra’s decrease of 2.3% was the worst performance in this category.


Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : canterbury , narara , millner , whyalla , mt gravatt

go back

Get help with your investment property

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 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 an appointment is free.

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