Price movement ranges from 4.6pc fall to 16.4pc rise

Price movement ranges from 4.6pc fall to 16.4pc rise

home sales
03 June 2015 by Staff Reporter 0 comments

Two of Australia’s property markets are booming, another two are humming, while the final four are slumping.

Sydney’s median house price reached $880,000 at the end of May, according to CoreLogic RP Data. That marked a jump of 16.4 per cent on the previous year.

The city’s apartment sector also recorded strong growth, with the median unit price rising 8.8 per cent to $638,000.

Melbourne’s median house price climbed 9.8 per cent to $620,000, while the median unit price climbed 2.9 per cent to $480,000.

Brisbane remained Australia’s number three market, with house prices up 3.2 per cent to $490,000 and unit prices up 2.0 per cent to $394,000.

Adelaide was the only other capital to experience growth in both sectors, with house prices increasing 3.5 per cent to $420,000 and unit prices increasing 1.8 per cent to $342,000.

Canberra’s median house price grew 2.9 per cent to $588,000, however the median unit price fell 3.9 per cent to $410,000.

Perth house prices rose 1.0 per cent to $530,000 as unit prices fell 4.0 per cent to $435,000.

House and apartment prices fell in both of the other capital cities.

Hobart’s median house price decreased 0.6 per cent to $359,000, while its median unit price decreased 4.6 per cent to $265,000.

Darwin houses fell 1.6 per cent to $573,000, while units fell 4.0 per cent to $465,000.

[Related: Real estate market on alert as lending risks grow]

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