House Price Boom Eases Off
The ABS House Price Index series released today shows some signs of easing off in price increases. One city (Melbourne) actually had a fall in prices of 1.3%. Weighted rise for all capital cities was 2.5% for the March quarter compared to 17.9% for the year.
The REIA has also released their median house prices for March. They tend to pick up price trends ahead of the ABS series and show a fall in price for Brisbane as well as Melbourne for the March quarter. FinDem has updated the prices for Australia from the REIA figures, which show a national average change of 1.9% for the quarter. We have added a graph to Miscellaneous Charts, which shows the capital city increases for the 5 years to March 2004. Top increase is Brisbane at 18.9%pa just ahead of Canberra at 18.6%pa.
Posted Thursday, 3 June 2004
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