The drop in property prices continued in the last quarter and will most likely mark the bottom of the cycle, according to our latest research.
It showed weighted average median prices dropped by 1.0 per cent for houses and by 0.6 per cent for other dwellings. This is a continuing decline since June 2018 for houses and other dwellings but the decline is slowing. The weighted average median price for houses for the eight capital cities dropped to $720,041 over the quarter, with prices down in all capitals except Canberra and Hobart. The weighted average median price for other dwellings dropped to $565,753, with prices down in all capitals except Melbourne, Hobart and Darwin.