Bush capital posts surprise performance

By Staff Reporter

Australia’s capital city experienced the third-highest median house price growth rate over the past financial year according to a recent housing report.

The Domain House Price Report for the June 2015 quarter has revealed that Canberra followed behind the booming markets of Sydney and Melbourne in terms of median house price growth over the 2015-16 financial year.

Canberra’s median house price grew 1.5 per cent over the June quarter and 5.4 per cent over the financial year, taking it to third place for capital city growth across Australia.

Domain senior economist Andrew Wilson said restored confidence in the local housing market is likely to result in increased buyer activity for the remainder of 2015.

“Canberra has now recorded three consecutive quarters of house price growth for the first time since 2009,” Dr Wilson said.

“However, while house prices are performing well, unit prices did fall sharply over the quarter to be down by 6.8 per cent year-on-year.”

Sydney house prices surged 22.9 per cent over the year, almost double the national median growth of 11.7 per cent. Sydney apartments were also up significantly by 13.9 per cent.

In Melbourne, median house prices were up 10.6 per cent and units up 4.5 per cent year-on-year.

In Adelaide the median house price grew by 3.3 per cent and the median unit price by 0.6 per cent.

Brisbane median house prices rose 1.9 per cent, while units dropped 3.2 per cent.

Darwin showed 1.8 per cent growth on median house prices and 3.3 per cent on units.

Hobart’s median house price was almost unchanged with just 0.6 per cent growth, while units fell 1.6 per cent.

PerthPerth, TAS Perth, WA was the worst off, with house prices falling 1.4 per cent and unit prices falling 2.1 per cent.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
Bush capital posts surprise performance
SPI logo