Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Housing market showing signs of weakness

Housing market showing signs of weakness

New research has revealed that only three of Australia’s capital cities did not experience declines in house or unit prices during 2014.

Sydney’s median house price reached $882,000 at the end of 2014, according to a report by the Real Estate Institute of Australia and Bendigo Bank.

That marked an increase of 15.2 per cent on the year before.

Advertisement
Advertisement

Sydney also reported a double-digit increase in unit prices, with the median jumping 12.1 per cent to $607,000.

Melbourne house prices climbed 11.7 per cent to $669,000, while unit prices climbed 5.7 per cent to $512,000.

Adelaide was the only other capital to enjoy capital gains for both houses and units, with houses rising 3.7 per cent to $425,000 and units rising 7.4 per cent to $333,000.

Canberra house prices grew 9.9 per cent to $545,000, but unit prices fell 3.5 per cent to $410,000.

Brisbane house prices rose 3.8 per cent to $482,000, while unit prices dropped 1.3 per cent to $385,000.

Darwin house prices declined 4.1 per cent to $585,000, however unit prices jumped 11.2 per cent to $495,000.

Australia’s two other capitals, Perth and Hobart, experienced median price reductions in both forms of housing.

Perth house prices fell 1.8 per cent to $540,000 and unit prices fell 1.4 per cent to $444,000.

Hobart house prices fell 2.7 per cent to $360,000 and unit prices fell 6.3 per cent to $263,000.

Housing market showing signs of weakness
mortgagebusiness

 

Latest News

Australia’s prudential regulator has clarified that, contrary to the views expressed by some analysts, the average balance of housing loa...

The Bank of Melbourne, BankSA and St.George Bank have slashed fixed rates across their owner-occupied and investment home loan offerings. ...

The member-owned bank has announced changes to its residential mortgage lending policy in response to APRA’s new guidance. ...

FROM THE WEB
podcast

LATEST PODCAST: Acquisitions and evolution

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.