Here’s where house prices have fallen across Australia over the past year

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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.  Migration

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.

Regions that recorded annual price falls

It was mostly country areas in several states where house prices declined.

The Queensland Outback region, which includes Cunnamulla, Mount Isa, and Weipa, topped the list.

SA4 region Jun-21 QoQ YoY
Queensland – Outback $215,000 -12.2% -30.6%
South Australia – Outback $235,000 -7.8% -20.3%
Far West and Orana $285,000 9.6% -14.7%
Barossa – Yorke – Mid North $285,000 5.6% -6.1%
Logan – Beaudesert $450,000 1.9% -5.3%
Ipswich $425,000 4.9% -5.1%
Perth – Inner $917,500 -3.4% -3.4%
Western Australia – Wheat Belt $345,000 -4.2% -2.8%

Data provided by domain

Capital city median house prices

House prices have increased again across all capital cities as the perfect storm for Australia’s property market continues to roll out.

Growing PricesAustralia’s national median house price has climbed exceptionally close to the million-dollar mark at $955,927 – which is a huge 18.8% increase over the year, or 5.8% over the June quarter, according to Domain’s latest quarterly House Price Report.

In fact, 6 Aussie states have high record highs for their third consecutive quarter, while the other two are again at their highest point in several years.

HOUSES, Stratified median price
Capital city Jun-21 Mar-21 Jun-20 QoQ YoY
Sydney $1,410,133 $1,303,185 $1,137,246 8.2% 24.0%
Melbourne $1,022,927 $982,382 $880,620 4.1% 16.2%
Brisbane $678,236 $645,718 $600,258 5.0% 13.0%
Adelaide $629,728 $597,187 $541,591 5.4% 16.3%
Canberra $1,015,833 $919,900 $786,517 10.4% 29.2%
Perth $595,823 $589,687 $530,702 1.0% 12.3%
Hobart $646,301 $606,275 $503,392 6.6% 28.4%
Darwin $608,519 $559,022 $497,543 8.9% 22.3%
National $955,927 $903,471 $804,380 5.8% 18.8%

Data provided by domain

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About

Robert Chandra is a Property Strategist at Metropole and has an intrinsic understanding of property markets backed by many years of real estate experience. This coupled with several degrees gives him a holistic perspective with which he can diagnose clients’ circumstances and goals and formulate strategies to bridge the gap.


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