Melbourne leads for December Quarter house price growth

The latest edition of the Bendigo Bank/REIA Real Estate Market Facts Report identifies some interesting trends around the Australian residential property market that should prove useful for people seeking properties across several price points.

Dennis Bice, Executive Retail, Bendigo and Adelaide Bank said:

"Melbourne median house prices recorded the strongest growth with 5.3% for the December 2014 quarter, while Sydney grew by 4.5%. Parts of Brisbane and Adelaide also recorded increases with the apartment market median price in Adelaide growing by 5.7%".

"While median house prices cooled in Darwin and Perth, other sectors of the Australian residential property market contained a few surprises with strong growth for the last quarter of 2014".

"Sectors of the Canberra market, Wollongong, Inner Brisbane and Hobart recorded strong growth and regionally, the Gold Coast, Townsville, Kalgoorlie and Launceston also recorded significant growth", Mr Bice concluded.  

Median house prices up:

Sydney 4.5% to $881,971
Melbourne 5.3% to $669,000
Brisbane 3.5% to $482,000
Adelaide 2.4% to $425,000
Canberra 1.9% to $545,000

Median house prices down:

Perth 1.8% to $540,000
Darwin 4.1% to $585,000

Median house prices unchanged:

Hobart at $360,000

Median other dwelling prices up:

Sydney 3.7% to $607,066
Melbourne 1.6% to $511,500
Adelaide 5.7% to $332,900
Perth 0.8% to $443,500
Hobart 0.8% to $262,500

Median other dwelling prices down:

Darwin 3.0% to $494,950

Median other dwelling prices unchanged:

Brisbane at $385,000
Canberra at $410,000