No September quarter growth in any capital, with Brisbane hardest hit
Not one capital city had a housing price gain in the September quarter.
Brisbane was the poorest-performing capital, with a 2.7% drop in the quarter. Nationally Australia's housing market continued to be sluggish, with prices falling 1.6%, according to Australian Property Monitors.
After its fifth consecutive quarterly fall, the national median house price declined over the quarter to $536,011.
Hobart was the only city to escape a fall in house prices, recording no change over the quarter at $327,340.
Brisbane is now mainland Australia’s cheapest capital for houses with prices at $429,339.
Sydney values dipped 1.8%, Canberra 1.4%, Perth and Darwin 1.6% and Adelaide 2%.
Melbourne median values fell the least, by 0.9%, making a total fall of 3.2% in the year to September 30.
Canberra was the only capital to show annual house price gains up 0.9% for the year to $566,095.
The median house price figures compiled by Fairfax-owned Australian Property Monitors suggested buyers were concerned about the global economy, a weak share market and unemployment, according to APM senior economist Dr Andrew Wilson.
Buyer wariness would remain, Wilson says, even as a potential fall in interest rates would be unlikely to have a significant impact on house prices in the short term.
The median unit price lost 0.6% to $406,342 across Australia.
