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Australia house prices fall

16 September 2015 by News Desk

property_03The price of homes in 50% of Australia capital cities has fallen over the past three months.

Darwin recorded the biggest fall in values with prices dropping by 3.2% over the past quarter. Prices in Perth were down by 1.5%, Canberra is 0.8% lower and Adelaide prices are slightly lower, at 0.1%.

The average price of a house in Adelaide is now $425,000 while average cost of a Unit (apartment) is $342,000.

While prices in some major cities are falling, homes in other capital cities have continued to increase in value, although at a slower rate than previously, suggesting a wider slowdown of house price inflation.

Sydney had the highest monthly rise, with property prices in August increasing by 1.1%. Adelaide is up by 0.7% while prices in Darwin rose just 0.3%. House prices in Melbourne and Brisbane have shown no change.

Darrell Todd of thinkingaustralia says: “These latest figures are good news for migrants seeking to buy a home in Australia. If current trends continue, house and unit prices will continue to fall during the rest of 2015 and into 2016.”

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