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