Fresh figures point to property slowdown

New figures have revealed that six of Australia’s capitals recorded slower property price growth in 2015 than 2014, with four actually going backwards.

Perth fared the worst, with the median dwelling price falling 3.7 per cent to $510,000, according to CoreLogic RP Data. That compared to a gain of 2.1 per cent in 2014.

Darwin’s median price decreased 3.6 per cent to $520,000 in 2015, after increasing 1.6 per cent in 2014.

In Hobart, the median dwelling price dropped 0.7 per cent to $350,000, after climbing 3.5 per cent in 2014.

Adelaide also went backwards in 2015, with the median price slipping 0.1 per cent to $420,000. That followed a 4.3 per cent rise in 2014.

Sydney recorded the strongest growth in 2015, with the median dwelling price jumping 11.5 per cent to $800,000. However, that was down on the 12.4 per cent growth posted in 2014.

In Melbourne, the median price rose 11.2 per cent to $610,000, compared to capital gains of 7.6 per cent in 2014.

Canberra’s median price increased 4.1 per cent to $585,000, bouncing back from a 0.6 per cent decline in 2014.

Brisbane had another positive year: the median price climbed 4.1 per cent to $475,000, following 4.8 per cent growth in 2014.

[Related: Property market outlook for 2016 revealed]

 

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