Darwin, Adelaide defy property gloom

Font size :
Australian Property Monitors (APM) said house prices in Adelaide climbed 3% over the quarter amidst the continuing strength of the resources sector. Strong demand for houses in Darwin had boosted prices up by 5% in the same period. Despite seeing record house prices, Melbourne and Brisbane property markets experienced slow growth over the December quarter, the data showed. Sydney saw negligible gains in the same period. Perth houses edged over the $500,000 mark for the first time, however, the city suffered its lowest quarterly growth in five years at just 1%. Demand for units remained weak, with all eastern capitals registering small declines in unit prices. Hobart was the only bright spot, notching a 6% rise over the quarter. "The headline figures for all eastern capitals indicate that those markets are in stabilisation phase of their property cycles," said Michael McNamara, operations manager for APM. However, APM noted that despite the overall sluggish performance, premium properties in the eastern states are racking up solid gains at the expense of mortgage belt and outer suburban areas. For example, properties in Sydney's affluent eastern suburbs and lower north shore suburbs such as Palm Beach, Waverton and Bellevue Hill achieved a double digit growth in the December quarter while mortgage belts outer suburbs such as Macquarie Fields and Lakemba languished. A similar pattern was noted in Melbourne, according to the report. "Strong migration patterns, wage growth and a weak new housing industry will all intensify the divide between premium and more outer suburban markets in 2007," McNamara added.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords