Australia’s Market Trends – June 2014

  • Cairns recorded the strongest results in Queensland with the median house price increasing by 5.6 per cent over the last quarter.
  • Prices in the Gold Coast rose by 4.2 per cent over the last quarter, the fourth consecutive monthly increase.
  • Growth in Sydney has continued, with house price growth of 8.15 per cent in the last quarter.
  • The New South Wales suburb of Beaumont Hills recorded the country’s strongest quarterly growth at 13.13 per cent.
  • The number of residential vacancies nationally jumped 0.3 percentage points to 2.3 per cent, representing 66,120 vacancies.
  • Dwelling commencements in Western Australia have surged by 38 per cent over the past 12 months to reach 25,600.
  • The median house price in Melbourne is $604,110 while the median unit price is $419,702.
  • The Australian Capital Territory posted a 17.8 per cent improvement in affordability levels, while Melbourne became 16.9 per cent more affordable and Adelaide became 10.9 per cent more affordable.
  • The Real Estate Institute of Tasmania’s quarterly report showed a median house price of $305,000 across the state.