The Real Estate Institute of Australia (REIA) says that property prices decreased in the first three months of the year resulting in the slowest annual growth in the past three years.
According to the latest REIA Real Estate Market Facts publication, the weighted average median price for the eight capital cities was $684,601 for houses and $537,591 for other dwellings in the March quarter 2016.
The REIA President Neville Sanders says, “Over the quarter, the weighted average capital city median house price decreased by 1.3% while the figure for other dwellings went down by 1.1”.
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