Property Prices at a Glance For Buyers

Have a glance at the changes in our property prices in the past 12 months from August 2018 to August 2019 (retrieved from here):

Capital City

12-month change in value
Aug 2018-Aug 2019

Median value

Sydney

– 6.9 percent

$790,072

Melbourne

– 6.2 percent

$626,703

Brisbane

– 2.1 percent

$485,493

Adelaide

– 1.1 percent

$428,203

Perth

– 8.8 percent

$437,558

Hobart

+ 3.1 percent

$465,535

Darwin

– 9.7 percent

$388,232

Canberra

+ 1.2 percent

$592,870

National

– 5.2 percent

$521,157

The property market is still at it’s early stages of recovery, especially so for our capital cities. It will be a while before we can see any improvement in our property prices. Despite the slight rise in property prices, prices are still low compared to last year. For buyers, although mortgage rates have reached an all time low since the 1950s, the hardest challenge for purchasing remains gaining an approval for a loan.

 

 

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