Ensure you never miss an issue of the
real estate business bulletin
Price growth returns to sustainable levels

Price growth returns to sustainable levels

by Staff Reporter 0 comments

While property prices are still rising in most Australian cities, the rate of growth has subdued into more sustainable territory.


According to the latest Australian Property Monitors’ Quarterly Housing Report Sydney is still the strongest property market in the country, however the 5.1 per cent growth rate from December 2013 has dropped to 3.1 per cent over the March quarter.

“The Sydney boom has well and truly faded with house and unit price growth the lowest rate since March last year,” said Dr Andrew Wilson, Senior Economist, Australian Property Monitors.

Sydney unit prices were up by 2.6 per cent over the March quarter, again a softening from the 3.2 per cent growth recorded over the previous three month period.

“The moderation of boom-time results in Sydney can be expected to continue as emerging affordability barriers and declining investor activity impacts the market,” Dr Wilson said.

Across the country, median unit prices increased by just 1.3 per cent and median house prices increased by 2.0 per cent.

Melbourne was the second best performer with median house prices increasing 2.8 per cent over the March quarter while unit growth was relatively flat at 0.2 per cent.

Brisbane and Adelaide house prices increased modestly by 0.9 and 1.3 per cent respectively.

Perth, Hobart, Canberra and Darwin all recorded flat or falling house prices during the March quarter.

The figures further support Dr Wilson’s claim that December was the ‘high watermark’ for property.

Price growth returns to sustainable levels
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?