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Property Management

Houses still selling quickly

August figures show no let up in the frothy housing market with the national median house price notching up yet another record while volumes were also very strong.

Wednesday, September 24th 2003

The latest Real Estate Institute sales figures show the national median house price rose from $211,250 in July to $215,000 in August, a 16.2% increase on August last year. July's national median house price represented a 14.2% rise on July last year while the June price was 13.3% increase.

The number of houses sold in August rose to 10,193 from 10,138 in July and was 26.8% more than the 8,036 sold in August last year.

On top of this strong showing, Deutsche Bank senior economist Darren Gibbs noted the median days to sell a house fell to a record low of 25 days in August.

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