Current State Of The Mortgage Market In Brisbane

Has The Mortgage Bubble Burst? A Snapshot Of House Prices In Australia

Steady increase has been the hallmark of the property market in Australia for the last 13 quarters. That record has recently been broken by a slight slump in the bullish market. Down turn was driven by the Sydney and Melbourne markets showing a clear decrease in median house pricing in the last quarter. Other capital cities such as Brisbane, Hobart and Canberra showed significant increase in median house prices, with Perth and Darwin show slight growth, with Adelaide remaining steady.

The median house price in Sydney has dropped 2.5%

house-prices-down The median house price in Sydney has dropped 2.5% down to $1,025,478. Melbourne fared slightly better with a 0.1% drop to a median house price of $718,000. Despite strong gains in Brisbane and other major capitals with gains of up to 9.8% in Hobart, the market still dipped 0.4% down to a median house price in an Australian capital city of $695,788.

Here is why current Australian property slump will get much worse!

This leaves many observers of the mortgage market in Australia wondering if the decrease in the Sydney market will continue to deflate. Clearly losses in Sydney affect the entire Australian housing market, with strong gains in other capitals failing of offset the losses in Sydney. Speculation suggests that tightened lending regulations combined with the Sydney market reaching a saturation point may continue to drive down the Australian median house price.

Sydney housing prices have risen

When we consider that Sydney housing prices have risen 52.5% over the last three years is it any wonder that a drop of housing price has occurred. If this continues to fall we may see a little relief for new home-buyers and a new sense of nervousness for investors.