National residential dwelling price growth market polarised: HIA
The rate of dwelling price growth across the capital cities slowed from 11.5% to 7.4% between April 2014 and March 2015, according to the latest research note from the Housing Industry Association, Perspectives on Australian Dwelling Prices.
The report found since March the pace of aggregate dwelling price growth increased to 10.1% during October 2015.
HIA senior economist Shane Garrett said the current market is quite polarised in terms of dwelling price growth.
"Two of the eight capital cities have seen prices drop over the past year, while two are experiencing growth at double-digit rates," he said.
"Tellingly, no capital city currently lies in the ‘middle ground’ price growth band of between 5% and 10%.
"With respect to dwelling price growth, the situation in Australia is currently quite unique, with a significant gap between the high growth markets (Sydney and Melbourne) and those cities experiencing falling prices."
