Researching the market for your next property investment?
This report, courtesy of Domain, brings together the latest property market movements for the quarter ending September 2018.
House prices in Sydney fell 3.1 per cent over the September quarter, reaching a median of $1,101,532. This is the third consecutive quarter of house price declines for the capital city, with the median dropping 6.5 per cent year-on-year.
Sydney unit prices decreased to $734,775 over the September quarter, reflecting a 0.7 per cent quarterly decline and a 1.3 per cent annual drop.
The median house price in Melbourne decreased 3.9 per cent over the September quarter to $852,980. The capital city also saw a decrease of 3.2 per cent annually.
Median unit prices in Melbourne declined 1.6 per cent over the September quarter to $496,260. Year-on-year the city saw growth of 1.5 per cent.
The median house price in Brisbane declined by a marginal 0.4 per cent over the September quarter, reaching $567,376. Despite the quarterly fall, the median house price rose by 2.2 per cent year-on-year.
The median unit price in Brisbane fell by 3.8 per cent over the September quarter and 6.8 per cent over the year to $376,972.
A marginal 0.3 per cent decline over the September quarter pulled the Adelaide median house price down to $535,527. The median house price in Adelaide increased 3.8 per cent over the year.
Unit prices in Adelaide increased 1.3 per cent over the September quarter to $316,163.
House prices in Perth decreased 2.4 per cent over the September quarter, reaching a median of $544,609.
Unit prices in Perth fell by 7.1 per cent over the September quarter to reach a median of $347,089.
The median house price in Darwin fell by 2.2 per cent over the September quarter, reaching $519,260
Median unit prices in Darwin also decreased to $312,456, reflecting a 2.6 per cent quarterly fall. Darwin is now the most affordable Australian capital city to invest in a unit.
House prices remained steady over the September quarter and increased 4.0 per cent over the year to $740,215.
Unit prices fell 3.4 per cent over the September quarter and 4.0 per cent over the year to $412,888.
The median house price jumped 3.7 per cent in Hobart to reach $478,491 over the September quarter, marking a huge 19.3 per cent increase year-on-year.
Median unit prices decreased by 4.1 per cent in September to $352,111, however, the city saw an increase of 12.8% per cent over the year.
Thank you to Domain for supplying this median house price Australia data.
