Cooling housing market has a silver lining

December 10th,2014

A new report released today shows a cooling housing market across Australia with strong growth in Sydney the exception.

The latest edition of the Bendigo Bank/ REIA Real Estate Market Facts report, released today by the Real Estate Institute of Australia, provides a comprehensive national snapshot of the sector using the latest data for the September Quarter 2014.

At $843,994, Sydney’s median house price is the highest among the capitals while Hobart remains the lowest median house price across Australian capital cities at $360,000. This is a significant difference of $486,994.

REIA CEO Amanda Lynch said, “The release of these figures is very timely given the recent developments last week that saw analysts shift from expectations of a rate rise in 2015 to the possibility of a rate cut.”