Real Estate Institute of Australia1s latest Real Estate Market Facts report shows that the
September quarter of 2022 saw a decline in the weighted average capital city median price for both
houses and other dwellings across the Australian residential property market with Queensland
recording a historic rent rise increase.
REIA President Mr Hayden Groves said the weighted average capital city median price decreased by
5.2% for houses and 2.3% for other dwellings.
11The weighted average median house price for the eight capital cities decreased to $958 581 over
the quarter. The median house price decreased in all capital cities ranging from 0.4% in Adelaide
to 8.4% in Canberra.
At a median sale price of $1A64 371 Sydney1s median house price continues to be the highest
amongst the capital cities1 52.8% higher than the national median. At $53010001 Perth has the
lowest median house price across Australian capital cities1 44.7% lower than the national median.
Over the 12 months to the September quarter1 the weighted average capital city median house price
decreased by U % Indicating the weighted house price was below that of September 2020.11
Mr Groves said this is the first annual decrease since the September quarter 2019.
The weighted average median price for other dwellings for the eight capital cities decreased to
$629A091 a quarterly decrease of 2.3%.
GROWTH IN HOUSING FINANCE APPROVALS RESUMES
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