House Prices Steady
Australian house price movement is steadying. Medians for March quarter released yesterday by REIA show declines in Melbourne (-4.9%) and Brisbane (-1.4%) and rises in Sydney (1.2%), Perth (3.5%), Canberra (4.6%), Darwin (5.8%) and Hobart (2.3%) – Adelaide no change.
FinDem maintains a series for Australia weighted by state population. National average house price according to this series is $382,000. This is a decline over the past 1 year to March of 2.3% - the biggest one-year decline since the series started in 1967.
Posted Thursday, 16 June 2005
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