Property Prices Reflect State Economies

December 14th,2016

REIA today released the REIA Real Estate Market Facts for the September quarter 2016 which shows that the weighted average capital city median price increased by 1.4% for houses and 1.6% for other dwellings.

“The weighted average median house price for the eight capital cities is now $712,776. Reflecting the differing fortunes of state economies, over the quarter, the median house price increased in Sydney and Melbourne while the rest of the capital cities recorded decreases. Compared to the corresponding quarter of the previous year, the median house price went up by 2.2% and, with the exception of Perth, Canberra and Darwin, all the capitals contributed to the increase”, said Mr Malcolm Gunning, President of the REIA.