Brisbane median unit price falls 3.8 per cent: Domain

Brisbane, Darwin and Perth were the capital cities to record a median house price falls over the March quarter, according to Domain.

Brisbane house prices have recorded the largest quarterly drop since September 2011.

The latest data from Domain’s State of the Market Report calculated a fall of 1.4 per cent for houses.

Annual growth is still positive, at 3.4 per cent, the slowest growth rate recorded in Brisbane since 2013.

Unit prices fell 3.8 per cent to $376,000, the biggest drop since 2000.

Domain Group chief economist Andrew Wilson told Domain Brisbane always starts the year in "snooze mode" and it builds strength through the year

But Dr Wilson forecast units in Brisbane were continuing their downward slide and would potentially flatten out after 12 months.

Perth’s median house price has had its lowest rate of annual decline in around two years.

Figures for the March quarter have revealed Perth house prices fell 1.8 per cent to $561,000, reflecting a 3 per cent annual decrease in median price.

Perth unit prices were down 5.1% annually, to $368,000.

Darwin unit prices fell by 16.1% to $395,473 for the quarter, reflecting 18% for the year. House prices were however up in Darwin by 2.9% during the quarter, but are down by 3.3% annually.

In Melbourne apartment prices are soaring, with the price growth in the first three months of the year surging 4.6 percent.