Lie given to housing slowdown notions

The national median house price struck a new record at $240,500 in March as the number of houses sold that month leapt to 11,371 from 9,940 in February, the latest Real Estate Institute figures show. That compares with 10,747 houses sold in March last year.

The median house price compares with $231,000 in February and the previous record struck in November of $235,000 and with the $200,000 price in March last year. That makes the annual price increase a whopping 20.25% increase.

Other figures released on Monday showed the overall inflation rate in the year ended March was just 1.5%.

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