Residential Property Price Index drops

The latest ABS Residential Property Price Index for Darwin was down 0.8 per cent in June 2015 in comparison to the previous month’s figure. 

The Property Council of Australia’s Director Northern Territory Ruth Palmer said “This follows falls in March and December quarters. The index fell 1.8 percent through the year to the June quarter.

“Over the June quarter, the Housing Price Index fell 0.5 percent and the price change of attached dwellings fell a further 1.3 percent. Over the year to now, the Housing Price Index has fallen 1.8 percent and the attached Dwelling Price Index also dropped 1.8 percent.

“The drop in the Housing Price Index is likely due to the combination of demand not keeping up with the increase in the supply and confidence in the residential market starting to soften.”

Media contact:  Ruth Palmer  |  M  04 428 314  |   E  [email protected]