Aussie property bottoms out

12 APR 2012 • 1 min read • Hotspots

Australian residential property prices have bottomed out, according to NAB’s latest Residential Property Survey.

National house prices fell 1.3 per cent in March, following a 2 per cent drop in the last quarter of 2011.

Western Australia performed the best, with prices falling by just 0.1 per cent over the quarter.

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Queensland was the poorest performer, with prices falling 2.4 per cent.

According to the report, national house prices are expected to fall just 0.2 per cent over the next year – suggesting the property market has bottomed out.

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