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12 Month Low in Australian House Prices

Median House Prices Australia

12 Month Low in Australian House Prices

Median House Prices Australia

Image courtesy of domain.com.au.

According to Domain’s March 2022 Quarterly House Price Report in the first quarter of 2022 Australian property prices are slowing, with the median house price growth rate dropping to 0.6%. Here are the results per capital city:

  • Property prices fell in Melbourne, Canberra and Darwin.
  • Sydney’s prices have now stalled and flatlined.
  • Brisbane, Adelaide, Perth and Hobart all continued to rise.
  • The rate of growth in Perth and Hobart has slowed to levels not seen since 2020.
  • Nationally, house prices have reached a record-breaking high of nearly $1.07 million.

It is also worth mentioning that Sydney’s house prices were up by 0.2% hitting $1.59m. Sydney unit prices on the other hand fell 1.2% to $796,524 which was the first quarterly decline since the June quarter of 2020.

Source: Domain House Price Report.

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