Prices in Australia continue to rise in 3 capitals
Despite the softening of the general market in Australia, new prices continue to rise in 3 capitals.
Property prices in Australia declined by 2.3 percent. However, prices continue to increase in the major capitals of the country.
According to REIA President Adrian Kelly, prices have risen in Hobart and Adelaide, although property prices in the whole nation have dropped to $ 733,438. In Perth, prices remained stable.
The average median price of real estate prices in the regions outside these cities fell to $ 570.905 for the quarter. “Interestingly, in NSW median prices for both houses and other dwellings prices have declined in both regional and urban areas,” Mr Kelly said.
“In Victoria, however, they have declined only in Melbourne, with the regional areas of Geelong, Bendigo and Ballarat still recording strong price growth.”
The monthly rent market remained stable. Median sales increased in three-bedroom houses in all capitals except Sydney, Melbourne and Hobart.
“The median rent for two-bedroom other dwellings increased in Canberra and Hobart, remained steady in Brisbane, Adelaide and Perth and decreased in Sydney, Melbourne and Darwin. Hobart had the largest increase, while Sydney had the largest decrease,” Mr Kelly said.
“The weighted average vacancy rate for the eight capital cities remained steady at 2.6 per cent during the December quarter, a decrease of 0.1 percentage points for the year. The markets of all capital cities except Darwin have vacancy rates at or below the 3.0 per cent benchmark, indicating a strong demand for rental accommodation.
He says Darwin had the highest vacancy rate of 8.2 per cent which is 1.9 percentage points higher than the same time as last year, an indication of low demand.
Sevdenur Demir / [email protected]