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.

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.

Advertisement
Advertisement

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.

PROMOTED CONTENT


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 September quarter last year recorded the highest level of profitability from home sales in more than a decade, but researchers have warn...

The pandemic has changed what buyers look for in housing, according to new research.   ...

A new partnership exploring how the build-to-rent-to-buy (BtRtB) model could help at-risk and vulnerable women become home owners is under...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

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