Capital city house price trends mixed in March quarter

Housing prices fell in Sydney and Adelaide in the first three months of this year, data compiled by BIS Shrapnel shows. The LJ Hooker/Shrapnel Residential Property Index found house prices stabilised across the major capital cities as a whole. The index is based on contract prices for residential property sales reported by LJ Hooker agents only. The index for the Sydney market dropped by one per cent in the three months to March, while the index for Melbourne rose by 0.7 per cent. The index increased for Brisbane, Canberra, Perth and Darwin, but fell in Adelaide.