Only Darwin in decline - house prices 6.8% fall over the year: APM

Only Darwin in decline - house prices 6.8% fall over the year: APM
Jonathan ChancellorDecember 7, 2020

Darwin, the second priciest capital city in the country for houses, recorded a sharp price reversal during 2014.

Its median house price sits at $634,000, down from $680,000 a year earlier, according to Australian Property Monitors (APM).

The APM December 2014 report had the median house price decline in Darwin at 6% in the quarter, and 6.8% over the year.

Darwin units were down 4.3% during the December 2014 quarter to a $433,000 median, narrowly maintaining its second priciest capital city status.

Stratified median house prices (Quarterly) ($)

Houses

Dec 14

Sep 14

Jun 14

Dec 13

QoQ%

YoY%

Sydney

$873,786

$839,473

$811,271

$765,526

4.1%

14.1%

$610,470

$606,829

$605,537

$590,530

0.6%

3.4%

Brisbane

$489,681

$482,288

$481,857

$461,733

1.5%

6.1%

Adelaide

$466,930

$465,469

$464,028

$448,333

0.3%

4.1%

Perth

$612,873

$607,069

$613,187

$611,533

1.0%

0.2%

Canberra

$585,630

$577,303

$584,461

$582,959

1.4%

0.5%

Darwin

$634,316

$674,870

$644,714

$680,337

-6.0%

-6.8%

Hobart

$335,880

$329,660

$325,240

$326,225

1.9%

3.0%

National

$648,315

$635,201

$627,290

$605,113

2.1%

7.1%


Stratified median unit prices (Quarterly) ($)

Units

Dec 14

Sep 14

Jun 14

Dec 13

QoQ%

YoY%

Sydney

$597,668

$581,066

$573,042

$541,481

2.9%

10.4%

$431,419

$420,633

$423,509

$419,274

2.6%

2.9%

Brisbane

$357,315

$373,089

$381,714

$369,397

-4.2%

-3.3%

Adelaide

$297,857

$301,334

$290,817

$280,948

-1.2%

6.0%

Perth

$406,041

$403,742

$414,342

$405,798

0.6%

0.1%

Canberra

$412,835

$408,219

$410,271

$416,711

1.1%

-0.9%

Darwin

$433,981

$453,396

$449,970

$444,201

-4.3%

-2.3%

Hobart

$236,651

$243,047

$276,306

$256,924

-2.6%

-7.9%

National

$487,164

$478,868

$476,980

$459,376

1.7%

6.0%

Sydney, the priciest capital for house medians, was up 4.1% in the December quarter and up 14.1% over the year.

"Darwin house prices fell steeply by 6% over the December quarter reflecting the typically volatile pattern of local house price movements," APM senior economist Andrew Wilson.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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