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Australian property markets range from ice-cold to red-hot
Darwin property prices have fallen off a cliff, while Hobart values have stormed ahead, according to new quarterly data from Domain.
Darwin’s median house price at the end of June was $539,497 – an 11.8 per cent drop from the year before. The city’s median unit price fell 17.2 per cent to $326,126 (see tables below).
Sydney was the only other capital city to experience price reductions in both categories, with houses down 4.5 per cent to $1,144,217 and units down 3.5 per cent to $737,080.
Domain also reported price falls in three other capitals:
- Brisbane’s median unit price fell 6.4 per cent to $379,186
- Canberra’s median unit price fell 2.1 per cent to $415,414
- Perth’s median house price fell 1.0 per cent to $556,572
Hobart, though, enjoyed double-digit growth in both categories:
- House prices rose 15.9 per cent to $461,547
- Unit prices rose 22.6 per cent to $370,085
Growth was generally modest in Australia’s other housing markets, according to Domain.
Median prices for houses
| City | Price | Annual change |
|---|---|---|
| Sydney | $1,144,217 | -4.5% |
| Melbourne | $882,082 | 0.5% |
| Brisbane | $566,322 | 2.0% |
| Perth | $556,572 | -1.0% |
| Adelaide | $534,832 | 3.1% |
| Hobart | $461,547 | 15.9% |
| Canberra | $749,865 | 6.2% |
| Darwin | $539,497 | -11.8% |
Median prices for units
| City | Price | Annual change |
|---|---|---|
| Sydney | $737,080 | -3.5% |
| Melbourne | $496,021 | 0.9% |
| Brisbane | $379,186 | -6.4% |
| Perth | $379,038 | 1.7% |
| Adelaide | $312,992 | 0.9% |
| Hobart | $370,085 | 22.6% |
| Canberra | $415,414 | -2.1% |
| Darwin | $326,126 | -17.2% |
Disclaimer
This article is over two years old, last updated on July 26, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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