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Adelaide’s median house price decreased by 1.3% compared to the revised figure for the previous quarter, to $395,000. Compared to the same quarter of last year, the figure increased 3.4%.
Inner suburbs of Adelaide contributed to the quarterly drop with the median house price declining 0.9%. During the first quarter of 2013, median house prices remained unchanged in Middle Adelaide, while outer suburbs recorded increases. Mount Gambier recorded the largest drop, down by 5.3%.
Compared to the March quarter 2012, inner suburbs of Adelaide recorded to only decrease in house prices in the metropolitan area. Median house prices in Mount Gambier and the Riverland decreased 9.1% and 7.1% respectively compared to the same quarter of last year.
The median price for other dwellings in Adelaide decreased 2.3% over the quarter and 1.6% compared to the March quarter 2012, to $300,000.
Mount Gambier recorded the largest decrease with the median other dwellings prices declining 10.6% over the quarter and 17.3% compared to the same quarter of 2012.
Click here to view the Sales Market Update for the First Quarter 2013.
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