Brisbane most affordable mainland capital

Brisbane most affordable mainland capital

Posted on Friday, July 27 2012 at 9:26 AM

The majority of Australian capital cities bottomed out in the December quarter, evidenced by the modest price rises to follow for the first two quarters of 2012 in Sydney, Melbourne, Perth, Canberra, Hobart and Darwin, according to Australian Property Monitors senior economist Andrew Wilson.

“This trend can be
expected to continue in most capital city markets over the second half of 2012,
underpinned by the prospects of an active spring selling season signalled by
recent improvements in auction clearance rates and recent interest rate cuts,” Wilson

While the majority of
capitals have seen price growth since the December 2011 quarter, Canberra,
Perth, Darwin and Hobart have recorded median house price increases over the
entire year to June 2012.

Canberra appears to be
the most resilient capital, it also happens to be the standout for growth in
median house prices for the June 2012 quarter, up 1.1 per cent, to be 0.3 per
cent higher than the previous peak recorded in March 2011.

Melbourne and Adelaide
have recorded falls over the year to June 2012, while Brisbane goes one step
further, with falls over eight consecutive quarters to remain the most
affordable mainland capital.

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