Strong growth for house prices
The Real Estate Institute of Australia (REIA) have just released their June quarter median house price data which showed house price growth slowed over the June 2004 quarter but remained strong between June 2003 and June 2004.
According to the REIA, the median house price increased by 7.2 per cent in Hobart to $252,000. Median price increases were also recorded in Adelaide, which rose 2.9 per cent to $250,000 and Darwin whose median house price increased by 1.4 per cent to reach $255,000.
In contrast, Melbournes median house price fell by 2.7 per cent during the June quarter to $357,900, as did the median prices in Canberra (down 2.5 per cent to $361,500), Brisbane (down 1.7 per cent to $350,000) and Perth (down 1.0 per cent to $240,000). Sydney was the only capital city in the country whose median house price remained static during the June 2004 quarter at $520,000.
.