REIA’S REAL ESTATE MARKET FACTS SHOW HOUSING PRICES BLEW OUT BY ALMOST 20%

September 15th,2021

House prices have inflated by a whopping 18.4% over the year to June, 2021 the latest Real Estate Institute of Australia’s (REIA), Real Estate Market Facts has found. (The report records all sales that have settled).
REIA President, Adrian Kelly said that over the June quarter, the weighted average capital city median price increased by 4.4% for houses to record $913,946 and by 2.9% for other dwellings reaching $632,889.
“At $1,410,133, Sydney’s median house price continues to be the highest amongst the capital cities, 54.3% higher than the national average. At $515,000 Perth has the lowest median house price across Australian capital cities, 43.7% lower than the national average.
“At $786,175, Sydney’s median other dwelling price continues to be the highest amongst the capital cities, 22.3% higher than the national average.
“At $400,000 Perth has the lowest median house price across Australian capital cities, 37.8% lower than the national average. Over the 12 months to the June quarter, the weighted average capital city median price for other dwellings increased by 8.6%,” he said.
Mr Kelly said major regional centers and coastal areas continued to pique the interest of those escaping the city, Australians moving interstate and strong interest from repatriating Australians resulting in premiums in home sales.