Median house price growth slows
PUBLISHED : 08 Jul 2010 06:23:13 | Dan HallGrowth in median house prices slowed in the first quarter of 2010, the Real Estate Institute of Australia’s (REIA) Mortgage Choice Real Estate Market Facts report shows.
“The cessation of the first-home owners grant boost and increases in mortgage rates have contributed to the more moderate growth in median prices,” REIA president David Airey says. “In the first quarter of 2010, the number of loans to first-home buyers decreased dramatically, as did the total number of housing loans.”
Median house prices recorded increases in most capital cities’ property markets over the March quarter (the exceptions were Melbourne and Canberra). Sydney, Darwin and Melbourne have reported the highest median house prices, while the lowest were recorded in Hobart, Adelaide and Brisbane. “This quarter has seen the weighted average median house price increase by 0.8 per cent to $518,624,” Airey says. This median grew by 8.1 per cent in the December quarter.
Dan Hall
BRW
Dan Hall
ContributorSydney
Dan Hall writes on the mining and resources for the Australian Financial Review and covers a range of sectors and business issues for BRW. Prior to joining BRW, Dan edited manufacturing and mining trade publications FEN and Australian Mining. Dan has also written for CFO and The Australian Financial Review. He holds a Bachelor of Communication from Newcastle University.
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