news

House prices rebound

By webmaster

Australian house prices have risen nationally for the first time since September 2010, indicating tentative signs of a recovery in the housing market.

The latest Australian Property Monitors December Quarter House Price Report has revealed that national house prices rose marginally over the December quarter from $533,521 to $533,650.

Although the rise was minimal, this was the first rise in the national median house price following five consecutive quarterly falls.

The rise in national median house prices essentially reflects the impact of an increase in the Melbourne housing market over the December quarter.

Melbourne led the nation in capital city median house price growth, increasing by 1.1 per cent.

Sydney home prices were flat over the quarter, having recorded only one quarterly fall in median house prices (September 2011, down 1.8 per cent) over the 13 quarters since the height of the GFC in September 2008 – a remarkable performance.

Adelaide and Hobart also recorded increases in median house prices each rising by 0.5 per cent over the quarter,” APM senior economist Andrew Wilson said.

“Canberra, Darwin, Brisbane and PerthPerth, TAS Perth, WA however all recorded falls in median house prices over the December quarter, with the greatest falls in Brisbane and Perth.

“Brisbane and Perth continue to be the house price underperformers with both cities having now recorded six consecutive quarters of median house price decreases.”

But despite the recent decreases in median property prices, Mr Wilson said improvements in housing affordability and subdued house price growth together with the continuing prospect of strong economic growth, should help most Australian capital city housing markets recover through 2012.

“Early signs are already emerging of increased buyer activity in Sydney, Melbourne, Perth and Canberra,” he said.

House prices rebound
SPI logo
Thank you.

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

We will be in contact with you shortly.
Opps.

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
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%