Property prices reflect state economies: REIA

The median house price across Australian capital cities has increased by 4.1 per cent for houses and 2.1 per cent for other dwellings, according to the latest research from the Real Estate Institute of Australia.

The REIA Real Estate Market Facts for the December quarter 2016 saw the weighted average median house price for the eight capital cities at $743,496.

REIA President Malcolm Gunning said over the year, the median house price increased in all capital cities except Perth and Darwin, reflecting the differing fortunes of state economies.

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