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Domain Regional House Price Report - March Quarter


Each quarter Domain releases the most up-to-date data on median house prices around the country. To complement the House Price Report relating to capital cities, Domain releases quarterly data on regional New South Wales, Victoria, and Queensland, so that you can get the full picture of what’s happening around the country.

Victoria

Ballarat

Median house prices in Ballarat remained steady over the March quarter, flat at $325,000. Annually, median house prices in the Ballarat region increased by 1.6 per cent. “Market activity steadied in Ballarat over the March quarter after a period of robust activity. The region remains an affordable option for buyers looking to set up a home in regional Victoria,” said Domain Chief Economist, Dr Andrew Wilson.

Greater Bendigo

Greater Bendigo’s median house price grew by 6.8 per cent over the quarter, reaching $350,000. Annually, median house prices in the Bendigo region increased 2.9 per cent. “After a brief period of subdued market activity, Bendigo’s strengthening local economy has prompted a market revival in the region, with house prices firmly on the rise,” said Domain Chief Economist, Dr Andrew Wilson.

Greater Geelong

Geelong’s median house price increased 2.8 per cent over the March quarter, reaching $452,500. This follows a strong year of market growth, with prices increasing by 7.7 per cent annually. “The Geelong housing market continues to record solid house price growth, with the highest annual growth rate of all major regions in Victoria. The strengthening local economy points to further growth ahead,” said Domain Chief Economist, Dr Andrew Wilson.

Wodonga

Median house prices in Wodonga increased by 1.5 per cent over the March quarter, reaching $330,000. The region’s annual prices grew 4.8 per cent. “The Wodonga housing market remains bolstered by a strong local economy. The region is becoming increasingly popular among Melbourne buyers looking for a change of scenery and lifestyle,” said Domain Chief Economist, Dr Andrew Wilson.

New South Wales

Albury

Median house prices in Albury increased by 2.5 per cent during the March quarter to $347,000. This follows significant annual price growth of 11.9 per cent. “The Albury market has extended its recent revival over the March quarter. This is a positive sign that the local economy and housing market are continuing to strengthen,” said Domain Chief Economist, Dr Andrew Wilson.

Ballina

Over the March quarter, house prices in Ballina increased by 2.4 per cent, reaching $550,000. Overall, the region experienced an annual increase of 5.8 per cent. “Ballina continues to attract buyers looking for a relaxed lifestyle with a vibrant nightlife, which is helping to keep the property market strong in the region,” said Domain Chief Economist, Dr Andrew Wilson.

Clarence Valley

The median house price in Clarence Valley increased by 4.9 per cent over the March quarter to $376,500. This follows a sharp annual increase of 15.8 per cent. “Clarence Valley’s recent property boom has extended into the March quarter as the region continues to attract NSW buyers looking for a riverfront destination,” said Domain Chief Economist, Dr Andrew Wilson.

Coffs Harbour

The median house price in Coffs Harbour increased by 2.0 per cent to $459,000. The region’s annual performance grew by 5.0 per cent. “Coffs Harbour has had another quarter of steady price growth, indicating that market activity will remain solid throughout the year,” said Domain Chief Economist, Dr Andrew Wilson.

Dubbo

House prices in Dubbo fell by 3.3 per cent this quarter, reaching a median price of $355,000. This contrasts a steady year of market activity, with median house prices increasing by 1.7 per cent annually. “Despite a period of slightly subdued market activity, Dubbo’s desirable location and robust local economy makes it an emerging destination for Sydney buyers looking for a country lifestyle change. This places the region in a good position to bounce back in coming months,” said Domain Chief Economist, Dr Andrew Wilson.

Lismore

The Lismore housing market remained steady over the March quarter, increasing marginally by 0.3 per cent to $350,000. Annual house prices in Lismore grew by 5.7 per cent. “House prices in Lismore continue to track upwards, with buyer and seller interest remaining steady in the region this quarter,” said Domain Chief Economist, Dr Andrew Wilson.

Newcastle

The median house price in Newcastle increased by 5.8 per cent over the March quarter, reaching $570,000. The region has experienced a significant annual growth of 16.3 per cent. “Newcastle’s booming property market continues to grow with strong buyer demand pushing up the median house price. All signs point to steady growth throughout the region in 2017,” said Domain Chief Economist, Dr Andrew Wilson.

Orange

Orange’s median house price decreased by 4.2 per cent over the March quarter, to $345,000. The fall is in line with Orange’s annual house price median, which declined by 1.4 per cent over the year. “After showing signs of revival last year, the Orange housing market slowed over the March quarter, reflecting a similar decline in annual prices. A return to price growth will be dependent on the strength of the local economy,” said Domain Chief Economist, Dr Andrew Wilson.

Richmond Valley

Median house prices in Richmond Valley increased a significant 16.4% per cent over the March quarter, reaching $319,000. Annually, median house prices rose by 5.5 per cent. “Richmond Valley recorded a sharp rise in median house prices over the quarter, coupled with robust annual growth, thanks to a number of new developments and focus on residential growth in the area. Richmond Valley is expected to remain a popular destination for buyers in 2017,” said Domain Chief Economist, Dr Andrew Wilson.

Tweed

The median house price in Tweed reached $565,000 over the March quarter, up 6.6 per cent over the quarter and a significant 13.2 per cent over the year to date. “Northern NSW regions are consistently recording booming results, and Tweed is no exception. The region’s remarkable annual growth is a sign that market activity will continue to track upwards,” said Domain Chief Economist, Dr Andrew Wilson.

Wagga Wagga

Over the March quarter, median house prices in Wagga Wagga decreased marginally by 1.8 per cent to $335,000. The region’s annual median price fell by 5.2 per cent. “Wagga Wagga’s market has returned to a period of subdued activity over the March quarter, reflecting a minor decline in prices over the year,” said Domain Chief Economist, Dr Andrew Wilson.

Wollongong

The median house price in Wollongong increased 3.9 per cent over the March quarter, reaching $722,000. This follows strong annual growth in Wollongong, rising by a significant 19.3 per cent over the year. “Very strong price growth and a steady momentum of housing market activity continues to solidify Wollongong as one of NSW’s most popular coastal regions. Wollongong has again produced the strongest result of all major regional markets across Australia,” said Domain Chief Economist, Dr Andrew Wilson.

Queensland

Cairns

Over the March quarter, Cairns’ median house price increased slightly to $417,000, up 0.5 per cent. Annually, the median house price increased by 4.3 per cent. “The Cairns housing market recorded marginal growth over the March quarter, while a revival in the local economy has brought new life to the market over the past year,” said Domain Chief Economist, Dr Andrew Wilson.

Gold Coast

The median house price in the Gold Coast increased by 0.8 per cent to $600,000 over the March quarter. Gold Coast prices experienced a strong increase of 8.1 per cent over the year. “Following a sharp spike in house prices in recent quarters, market activity in the Gold Coast region this quarter has steadied. Gold Coast has produced the highest annual growth of all major Queensland region markets for the second quarter in a row,” said Domain Chief Economist, Dr Andrew Wilson.

Mackay

House prices in Mackay have decreased 5.9 per cent over the quarter, reaching a median of $305,000. The fall is in line with Mackay’s annual performance, with a 10.3 per cent decline in price growth over the year. “Mackay’s median house prices fell substantially over the March quarter following a general trend for the year. As one of Queensland’s most affordable destinations offering relaxed beachside living, the region may undergo a revival this year,” said Domain Chief Economist, Dr Andrew Wilson.

Rockhampton

The median house prices in Rockhampton remained flat at $315,000 over the quarter. Overall, median prices in the region decreased slightly by 1.6 per cent over the year. “Rockhampton has started to show positive signs of stabilising following an extended period of subdued housing market activity,” said Domain Chief Economist, Dr Andrew Wilson.

Sunshine Coast

Over the March quarter, the median house price in the Sunshine Coast grew 3.2 per cent to $570,000. Similarly, house prices grew by 7.6 per cent across the year. “The Sunshine Coast delivered the strongest quarterly price growth of all the major Queensland regions, indicating that buyer and seller activity may continue to grow throughout 2017,” said Domain Chief Economist, Dr Andrew Wilson.

Townsville

Over the March quarter, median house prices in Townsville fell to $330,000, a 4.3 per cent decline. Overall, the region’s median price fell 2.9 per cent over the year. “The Townsville housing market remains subdued this quarter, reflecting a recent downturn in the local economy. However, signs that the market is stabilising are beginning to emerge and it remains to be seen whether the region will bounce back in the coming months,” said Domain Chief Economist, Dr Andrew Wilson.


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