Property Market Information Blog: Median capital city property prices increase

By the resi financial blog team, 17 March 2014

Median house prices in Australian capital cities

Australia's capital city housing market is in the middle of huge growth, with the latest release from the Real Estate Institute of Australia (REIA) and Bendigo Bank indicating an extremely positive outlook for the remainder of 2014.

Now could be a great time to consider looking into investment home loan options across the nation. Building a property portfolio is a great way to supplement your wealth for the future, and with the official cash rate resting at such a low level, now could be the perfect time to consider taking your first step towards becoming a landlord. 

REIA President Peter Bushby said the weighted average median price for Australia's capital cities grew during January. House prices grew by 5.7 per cent, while units saw a 4.5 per cent growth in median price. 

"The weighted average, median house price for the eight capital cities is now $598,044. All capitals contributed to the increase, with the largest rise in Melbourne, up by 7.3 per cent. At $763,169, Sydney's median house price is the highest among the capitals," said Mr Bushby in a March 12 statement. 

When compared to the same time 12 months ago, the median house price across the nation's capital cities rose by 13.1 per cent. Furthermore, growth is expected to continue into the near future, which could act as an incentive for investment in the coming months. 

"The weighted average, median price for other dwellings for the eight capital cities was $482,584. Over the quarter, with the exception of Darwin, all Australian capitals had increases," said Mr Bushby.

This could be a great opportunity to secure property early on in the year and prepare for the potential capital gains expected further on. There are a wide range of investment loans that can help you achieve your real estate goals. 

Categories: Property Investment