Prices Continue To Rise
Australia’s housing market has hit a new high, with property prices rising in almost every capital city and region over July.
PropTrack data shows dwelling values nationally rose everywhere but the ACT (down 0.2%) during July, leading to 4.9% year-on-year growth.
It says nationally the median dwelling price is now $827,000, the median house price is $915,000, and the median unit price is $678,000.
The regional markets are the top performers in the 12 months to August in the house market, led by Regional South Australia, up 12.3%, Regional Western Australia, up 10.2% and Regional Queensland, up 9.4%.
Across the capital city house markets, Adelaide is the strongest with its median up 9.5%, followed by Brisbane, up 7.8% and Darwin, 6.5%.
PropTrack senior economist, Anne Flaherty, says while the increases over July are small, the market remains resilient.
“Auction clearance rates are the highest they’ve been in more than two years,” she says.
In the unit market, Regional South Australia is once again the top performer with growth of 13.8%, followed closely by Brisbane, 13% and then Perth, 11.4%.
