HOUSE prices continued to stagnate or deflate across the country in the June quarter, with only Sydney’s housing market showing signs of life.
Data from the Fairfax Media-owned Australian Property Monitors for the three months to June show Sydney escaped a national downturn in median house prices of 0.6 per cent, recording instead a slim rise of 0.1 per cent.
“With the exception of Darwin, the Sydney and Melbourne housing markets have proved to be the best performers over the year,” an APM senior economist, Andrew Wilson, said.
The figures reflect consumer caution regarding debt as well as concern about the global economy.
Both Brisbane and Perth continued their long, slow decline, with median prices falling 1.3 and 1.5 per cent respectively. Canberra recorded a surprise 2.8 per cent fall over the quarter.
The national median house price was $546,121. National unit prices were down 0.8 per cent to $404,753, the APM figures show.
Source: SMH, Simon Johanson
