The latest statistics show that house prices in Darwin and Palmerston fell in the first three months of this year.
A total of 199 houses were sold in the period for a median price of A$550,00, a decreasel of 1.7 per cent on the previous quarter and a drop of 0.5 per cent over the year.
The only other drops in the median houses prices during the ten years were in June and September 2000, June 2003 and December 2006.
The number of houses sold in the first three months this year was down 15.7 per cent on the previous quarter and 26 per cent on the same time last year.
There was a 24.7 per cent drop in the number of sales for the first quarter in Palmerston with 73 sold at a median price of A$465,000, representing an 8.8 per cent drop.
The prospect of further interest rate rises over the next 12 months will not help
Prepared by Bob Woodward & Associates: offering you business consultancy, accounting, payroll administration and ancillary services in Darwin; The Northern Territory, Australia
A total of 199 houses were sold in the period for a median price of A$550,00, a decreasel of 1.7 per cent on the previous quarter and a drop of 0.5 per cent over the year.
The only other drops in the median houses prices during the ten years were in June and September 2000, June 2003 and December 2006.
The number of houses sold in the first three months this year was down 15.7 per cent on the previous quarter and 26 per cent on the same time last year.
There was a 24.7 per cent drop in the number of sales for the first quarter in Palmerston with 73 sold at a median price of A$465,000, representing an 8.8 per cent drop.
The prospect of further interest rate rises over the next 12 months will not help
Prepared by Bob Woodward & Associates: offering you business consultancy, accounting, payroll administration and ancillary services in Darwin; The Northern Territory, Australia
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