Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

End may be near for housing boom

Property price growth has started to look very modest throughout Australia, with the notable exception of Sydney.

New CoreLogic RP Data statistics have revealed that the median price in Australia’s eight capital cities grew by an average of 3.1 per cent during the 12 months to 31 March 2015.

However, the average growth rate was only 1.5 per cent once Sydney was excluded.

Advertisement
Advertisement

Sydney’s median house price jumped 14.9 per cent to $782,000, while its median unit price jumped 9.7 per cent to $600,000.

Melbourne house prices rose 6.0 per cent to $560,000, while unit prices rose 2.4 per cent to $445,000.

Brisbane houses were up 2.6 per cent to $476,000, while units were up 3.0 per cent to $380,000.

House prices in Adelaide climbed 2.1 per cent to $427,000, while unit prices climbed 2.6 per cent to $340,000.

Property price growth in Australia’s other four capitals came in under the inflation rate, which was 1.7 per cent in 2014.

Canberra house prices increased 1.6 per cent to $590,000, while unit prices increased 0.2 per cent to $413,000.

Perth house prices rose 0.2 per cent to $530,000, although unit prices fell 2.8 per cent to $435,000.

Hobart houses climbed 0.3 per cent to $340,000 while units dropped 5.7 per cent to $260,000.

Darwin houses fell 1.5 per cent to $580,000, while units grew 2.7 per cent to $470,000.

End may be near for housing boom
mortgagebusiness

Latest News

The non-major bank has appointed a new chief executive officer of HSBC Bank Australia Ltd, taking over from interim chief executive officer ...

The major bank has announced that a former ANZ CEO will become the successor to its outgoing chairman, Lindsay Maxsted. ...

The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 1.8 per cent to 93.4 in January, from 95.1 in December. ...

FROM THE WEB
podcast

LATEST PODCAST: New government loans and grants for SMEs

Do you think Australia will move to quantitative easing this year?

Website Notifications

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