Residex has released its house and unit price results for August, which revealed a 0.1% decline in Australian house values over the month but a 0.4% rise in unit values. Over the year, house values rose by 6.7% nationally, with unit values up by 6.15%:
As shown above, Sydney continues to be the primary driver of house values nationally, with values in Sydney jumping another 1.9% in August, by an astonishing 7.9% over the quarter, and by 21.65% over the year, bringing the median house value there to a whopping $1,037,000! Melbourne’s housing market is also marching ahead, rising by 2.5% over the month, by 3.1% over the quarter, and by 9.3% over the year.
