Median house price falls for the first time in three years

After 13 consecutive quarters of growth, the weighted average median house price for the eight Australian capital cities decreased in the last quarter of 2015, according to the Real Estate of Australia (REIA).

REIA president Neville Sanders says the latest REIA Real Estate Marketfacts publication shows Australia’s housing market recorded the first decrease since the December quarter of 2012.

“The weighted average, capital city median price decreased by 0.4 per cent to $695,788 for houses and 0.7 per cent to $543,468 for other dwellings,” Neville says.

“Strong growth in Hobart, Canberra and Brisbane, followed by marginal increases in Darwin and Perth, were unable to offset falling median house prices in Sydney and Melbourne while Adelaide recorded no change over the quarter.




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