Prices rise in all but two capitals

By Staff Reporter 11 June 2014 | 1 minute read

The major capital cities experienced price growth over the past quarter, with the exception of Brisbane and Perth, according to data from Bendigo Bank and the Real Estate Institute of Australia (REIA).

The data shows the weighted average capital city median price rose by 1.9 per cent for houses and 1.7 per cent for other dwellings in the March quarter.

However, results were patchy across the capital cities.

Hobart prices rose by the greatest margin, climbing 4.1 per cent in the period.

Sydney and Melbourne also recorded surges, rising 3.1 per cent and 3.7 per cent respectively.

Brisbane and PerthPerth, TAS Perth, WA, on the other hand, took a hit in the first part of the year.

In Brisbane, the median fell by 1.1 per cent to $460,000.

The tumble in Perth was more dramatic, with prices coming down by 1.6 per cent to a median of $540,000.

For other dwellings, results were less positive.

Sydney, Melbourne and Darwin were the only cities to see a rise in the median price.

Darwin, in particular, underwent a rapid increase as the median price for other dwellings rose by 18 per cent.

Prices rise in all but two capitals
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