Home News House prices soar across the board

House prices soar across the board

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Median houses prices rose in every capital city in the June quarter, as investors flocked back to the market and first home buyers scrambled to buy before the First Home Owners Grant recedes.

In the Real Estate Institute of Australia's (REIA) quarterly report, Darwin recorded the highest increase, a whopping 19% over the last quarter, taking its median house price to 537,093.

Sydney recorded the highest house price, with the medium topping $544,000 - the most expensive of all capital cities. Hobart recorded the lowest median price - $336,000 - while Adelaide prices rose the least at just 1.1%.

"The figures recorded this quarter show evidence of an improving property market," says REIA president David Airey. "Factors contributing to this change are increased investor activity and the revival of the second and third home buyers in the market."

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