Sure the property markets are booming around Australia, but the rising tide isn’t lifting all ships equally.
And the rising tide has left some locations behind.
The latest Domain House Price Report shows that while the property boom rages on everywhere, there are eight areas across Australia where median house prices fell over the past year.
Nationally, the median house price rose 18.8 per cent to $955,927 in the year ending June 2021.
In fact, house prices continued to climb in all capital cities, with six of them hitting fresh highs in the second quarter of the year, according to the latest Domain House Price Report.
Canberra grew the fastest, with its median house price jumping 29.2 per cent to $1,015,833.
Melbourne also joined the million-dollar-city club after median house prices increased 16.2 per cent to $1,022,927.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.