House, unit prices tumble
On Tuesday 1 November 2011, 8:00
Hobart house prices are the nation's poorest performers.The latest survey by the national property company RP Data-Rismark reveals prices fell by 6.6 per cent in the three months to August and by more than 9 per cent over the past year.
The median dwelling price in Hobart is around $313,000, the lowest in the country and well down on the national average of $450,000.
RP-Data's Cameron Kusher says unit prices are even lower.
"Unit values fell 10.3 per cent compared to a 9 per cent fall in house values and that's a little bit different to what we're seeing across the other capital cities where we're seeing units are actually outperforming houses," he said.
3 comments
- 0 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this commentjames Report Abuse
Houses anywhere can only fall so much because the cost to build will not fall very much.
Reply - 0 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this commentWilliam Report Abuse
As long as people stay away from Sydney's northern beaches I'm happy.
Reply - 2 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this commentRealityCheque Report Abuse
Oh no! Any further falls and housing might start becoming affordable in Australia.
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