The average house (as a hypothetical statistic) in Melbourne now costs $798,671 while the average unit costs $580,805. $1,187,500. a modest 0.2% in the June quarter, but are still up by 0.6% over the year. It's the way real estate should be. Looking forward, the state government’s infrastructure plans should drive job creation and population growth — which in turn will help the property market stay strong in the future. Sydney’s average house price is close to $1 million but property prices in some cities have fallen. Most agents overstate the upward movement in house prices. That's why our graphs show house price changes both nominal and real. Elsewhere in Australia, the Perth market will weaken across both houses and units due to a rising stock surplus and slowing state economy, with an expected 10% fall in average house prices in 2018 compared to the 2015 level, according to QBE’s Australian Housing Outlook 2015-2018 report. Adelaide units underperform compared to houses and recorded their steepest ever fall since 2013, making Adelaide’s units one of the nation’s most affordable — second only to Darwin. Before 1913: The value of land in Australia before 1913: Provides figures on Victorian crown land sales, detailing price per acre. Median … Houses prices in Melbourne’s inner east are the most expensive on average, while Melbourne’s western suburbs are home to the city’s cheapest houses. Real estate price trends for Australia are given by two main sources - the Australian Bureau of Statistics (ABS) and the Real Estate Institute of Australia (REIA). And despite the market growth across the rest of the country, Adelaide still has yet to see a strong rebound of the housing market. The Lower North Shore, City and Eastern Suburbs command the highest house prices in Sydney, while the lowest average house prices can be found in South-West and Western Sydney. Average home value in Hawaii: $646,733. At the end of the December 2019 quarter, Domain reported the average house price in Canberra as $788,621, and the average unit price as $455,537 – making Canberra one of the country’s most expensive cities to buy a house. This covers the median prices across all the capital cities, so you can get an idea of the market before you buy or sell a home. RELATED: Australia has a new ‘most expensive’ city. Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers. Median property prices over the last year range from $688,500 for houses to $440,000 for units. Melbourne down 0.1% to $718,000 3. Units in Melbourne have hit a new peak, with the average cost of a unit in Melbourne surpassing the cost of a house in cities like Adelaide and Perth. To complete your registration, please click the verification link sent to: If you do not receive an email within 15 minutes, please check your spam folder or contact us for help. The current house prices are almost 25% below their 2013 peak, while units are a whopping 41.2% lower than their peak in 2016. Get monthly informed analysis on world property markets and exclusive, early access to investment opportunities delivered right to your inbox. Enter your login email address and instructions for resetting your password will be sent. Domain’s House Price Report for December 2019 reported that the average house price in Hobart is $530,570, and the average unit price in Sydney is $441,104. Find Property for sale in Australia. Darwin up 0.5% to $608,750 4. According to the Domain House Price report for the December 2019 quarter, the average house price in Brisbane is $577,664, and the average unit price in Brisbane is $377,549. Upside is an Australian-owned, full-service real estate agency with one low fee and no commission. With a median unit price of $1,060,000, Sydney is higher than New South Wales' median unit price of $656,800. Knowing the average house price in your area can help give you a good indication of what you can expect to pay when buying, or on the flipside, how much you’re likely to be able to sell for.