Houses 400k Wages 52k
Using state capital house price medians from APM just released for December quarter, we have updated our data series in Research Centre. It shows the Australian median house price at $400,000 at the end of 2005 which is just under 8 times annual average wages. Increase for the quarter was 1.1% and for the year 4.2%. Perth and Darwin are still moving ahead strongly with 18 to 20% annual increase but Sydney and Melbourne remain very subdued.
Posted Saturday, 4 March 2006
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