Brisbane house prices drop survey shows average prices have dropped by 2.9 per cent over the past year, and median prices have dropped by 2.5 per cent (AP Photo)
Brisbane house prices have dropped 2.9 per cent over the past year, with median prices and house prices across Brisbane falling for six consecutive months to an annual low of 2.6 per cent, according to a new report released today by real estate agent RE/MAX Data.
The annual median property price in Brisbane fell by $1,085 over the year to $1,101,926, and the median sale price fell by $570 to $577,634, with a large number of properties falling in value or sold as part of a multi-million-dollar sales.
The average number of days in a year that a typical buyer can expect a property price decline during that period rose from 13.2 a week to 14.4 over the previous 12 months, with median buyers seeing their average buyer price drop by 7 per cent over the same period.
“We continue to see the same patterns in this period and that is the fact that the current cycle is turning over quickly,” said Richard Gidley, global market director for RE/MAX Data.
“So the longer you can see this cycle turn, the more the market has calmed down.”
The average sale price per unit recorded a decline by $8.26 in the quarter, to $4,200, on a quarterly basis.
The median sell price p바카라사이트er unit saw a rise from $5,000 to $5,500 in the quarter.
The decline was mainly due to the growth of sales volumes, with the rise of $1.25 billion from $3.8 billion in the past year. The average sale price per unit grew 1.4 per c카지노 사이트ent, on a quarterly basis, and saw an overall growth of 4 per cent, in spite of a 2.2 per cent decline in sales volumes.
In the latest report, RE/MAX Data also reported the average sale price for home buyers across Australia.
Sales volume declined by 5.5 per cent, but median buyers experienced an even bigger loss of 1.9 per cent, in parti바카라cular buyers in inner-city inner-suburbs experiencing a 12 per cent drop. This is in sharp contrast to the market as a whole, where median sales volumes had grown by 1.6 per cent and median buyer price by 1.9 per cen