House Prices Sideways
Across Australia house prices have been going no where much since the big boom ended in mid 2004. Changes in data collection by REIA from Mortgage Choice seem to be producing erratic numbers. Correcting for adjustments, the September quarter change was -0.5% for Australia.
Sydney median price is $520,000 (10 times average annual wages), followed by Melbourne $360,000 and Canberra $350,000. Perth and Darwin are catching up fast to the eastern capitals with medians of $308,000 and $300,000.
Posted Wednesday, 21 December 2005
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