The housing market is showing signs of slowing down in Australia and in some areas are actually falling. In Western Australia, house prices have dropped by more than 3% due to economic instability which is shaping local confidence, particularly in the mining sector and in the Northern Territory house prices have also fallen by 5% due to a weakening demand.
House prices which in recent years have been rising at unsustainable levels are now thought to be overpriced by as much as 30% with the five major metropolitan areas rated as severely unaffordable for many people.
Median house prices in the states and territories are as follows:
Melbourne - A$707,415
Adelaide - A$485,873
Sydney - A$1,032.433
Brisbane - A$497,143
Perth - A$589,100
Hobart - A$346,370
Canberra - A$625,092
Darwin - A$639,042
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15/12/2024
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12/12/2024
I would like to thank you for your assistance during this process. You have been professional and attended all queries raised.
We would both like to thank you very much for guiding us through this process which at times we found to be quite daunting and bewildering. I think we we’re both caught off guard when the approval came through, it was a surprise to say the least and also a huge relief as we can now both put our anxieties aside and start planning for our future together in Australia. We are both more than happy to if add to your collection of testimonies if you wish and again thank you very much