June quarter stats see bottom of the market: REIA

September 11th,2019

The decline in property prices continued in the June quarter and will most likely mark the bottom of the cycle, according to the latest research from the Real Estate Institute of Australia.

REIA President Adrian Kelly said REIA Real Estate Market Facts for the June 2019 quarter show weighted average median prices decreased by 1.0 per cent for houses and by 0.6 per cent for other dwellings.

“This is a continuing decline since June 2018 for both houses and other dwellings, but the decline is slowing,” Mr Kelly said.

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