The Real Estate Institute of Australia (REIA) says that property prices decreased in the June quarter with the weighted average median prices rising 2.1% for houses and 0.4% for other dwellings.
According to the latest REIA Real Estate Market Facts publication, the weighted average median price approached the $700,000 mark for houses and was around $545,000 for other dwellings.
The REIA President Neville Sanders says, “The majority of the capital cities recorded increases in the second quarter of the year. Perth was the only capital city where the median price fell for both houses and other dwellings due to slowing population growth and decreasing activity market.”
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