Melbourne drives increases in national median house price: REIA

The median house price across Australian capital cities has continued to increase with the weighted average median prices rising by 2.9 per cent for houses and 2.5 per cent for other dwellings, according to the latest research from the Real Estate Institute of Australia.

REIA Real Estate Market Facts for the March quarter 2017 show the weighted average median price for houses for the eight capital cities increased
to $763,892.

REIA President Malcolm Gunning said the median price was driven by increases in Melbourne and Sydney and, to a lesser extent, in Darwin.

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