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Much has been made from Australia’s ‘housing crisis’ recently, with current information showing household costs have actually dropped dramatically in the last 12 months, especially in Sydney and Melbourne.
Many respected reports have actually painted these home cost falls as some sort of catastrophe for property owners and investors.
But through the viewpoint of all aspiring home that is first, these are typically the best thing, while for everyone on low incomes, the response will probably be “who cares? ” In the end, household rates nevertheless stay very high generally in most locations that are urban after these decreases. Based on CoreLogic, the median house values as at March 2019 are the following:
| City | Annual modification | Median value |
|---|---|---|
| Sydney | -10.9% | $782,473 |
| Melbourne | -9.8% | $624,425 |
| Brisbane | -1.3percent | $489,832 |
| Adelaide | 0.8% | $426,990 |
| Perth | -7.7% | $442,716 |
| Hobart | 6.0% | $464,168 |
| Darwin | -6.8% | $400,316 |
| Canberra | 3.1percent | $595,212 |