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Strong capital growth good news for investors

by Staff Reporter1 minute read

The weighted average median Australian house price hit $471,300 in the December quarter 2007.

According to the Mortgage Choice/REIA Real Estate Market Facts report released yesterday the weighted average median house price increased by 6.4 per cent over the December quarter, and 11.8 per cent over the year.

Sydney, Melbourne, Perth and Canberra all now have median house prices over $450,000.

REIA president Noel Dyett said that while investment yields still have some room for improvement, the “capital growth in the property market provides significant cause for optimism, particularly for investors with medium and long-term investment strategies, despite recent interest rate rises.”

Published: 12-03-08

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