Three capital city markets recorded higher median house prices for the September quarter 2012, compared to the September quarter 2011, according to Australian Property Monitors’ September Quarterly House Price report.
Sydney, Perth and Darwin have recorded a higher median house price for the September quarter 2012, when compared to the same period 2011. Sydney recorded a year-on-year increase of 1.0 percent, Perth 1.3 percent, and Darwin 3.0 percent.
Over the September quarter, Darwin’s median house price increased by 1.7 percent. Canberra also recorded an increase, up 0.6 percent.
Sydney recorded a decline over the quarter, down 0.4 percent, as did Perth, with median prices down by 0.5 percent.
Melbourne’s median house price increased by 0.8 over the September quarter, but remained ‘steady’ over the year to date.
In Brisbane the median house price remained flat over the September quarter, ending a period of eight consecutive declines.
Median house prices fell by 1.0 percent in Adelaide, and by 2.0 percent in Hobart.
|
Median house price
Sept 2012 |
Quarter-on-quarter
% change |
Year-on-year
% change |
| Sydney |
$641,890 |
-0.4 |
1.0 |
| Melbourne |
$523,804 |
0.8 |
-0.8 |
| Brisbane |
$430,965 |
0.0 |
-1.2 |
| Adelaide |
$433,651 |
-1.0 |
-0.5 |
| Canberra |
$556,723 |
0.6 |
-0.1 |
| Perth |
$537,267 |
-0.5 |
1.3 |
| Hobart |
$305,889 |
-2.0 |
-4.7 |
| Darwin |
$610,592 |
1.7 |
3.0 |
| National |
$533,480 |
0.0 |
0.1 |
Source: Australian Property Monitors
Andrew Wilson, Australian Property Monitors senior economist, says housing market prospects for the remainder of 2012 will be dependent on the performance of local economies.
According to Wilson, Sydney, Perth, Darwin and Canberra are set to record increasing prices growth, with Melbourne prices to remain relatively steady.
“The Brisbane market is poised for growth, particularly from rising inner-suburban demand, however the recent increase in the unemployment rate could have an impact,” Wilson says.
“In Adelaide, the market will likely track sideways, and there are no clear signals that sustained house prices growth is set to return to Hobart.”
