![\"Signs](\"https:\/\/fmsto.blob.core.windows.net\/cms\/images\/055\/0004_637842993034005750.jpg\")
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Signs of a slowdown are becoming more apparent across Australian housing markets, with some capital cities recording a monthly decline in median house price growth.<\/p>\n
According to PropTrack\u2019s inaugural home price index, Melbourne, Perth<\/a>, and Darwin<\/a> all reported lower median prices in March, posting declines of 0.02%, 0.11%, and 0.61%, respectively.<\/p>\n Overall, median prices across Australia rose by 0.34% to $684,000.<\/p>\n PropTrack economist Paul Ryan said median house prices have slowed considerably in the first few months of 2022.<\/p>\n \u201cThe recent monthly growth is around half of the decade-average monthly pace of growth and substantially below the rate of growth this time last year,\u201d he said.<\/p>\n \u201cThe increase in prices across the country in March 2022 was at the slowest pace since May 2020, after national pandemic lockdowns.\u201d<\/p>\n Adelaide<\/a> led the growth among capital cities with its 0.84% gain, which was followed by Brisbane\u2019s 0.49%.<\/p>\n Capital cities posted a combined gain of 0.24% while regional areas registered a stronger growth of 0.62%.<\/p>\n \u201cRegional areas continued to benefit from relative affordability and preference shifts towards lifestyle locations \u2014 regional areas in all states outperformed their capital city region,\u201d Mr Ryan said.<\/p>\n The Rest of South Australia region hit the highest monthly gain (and the only growth above 1%) at 1.03%.<\/p>\n Meanwhile, only the Rest of Northern Territory posted a decline among regional areas at 0.13%.<\/p>\n Mr Ryan said the slowing of price growth across the board reflects the reduced influence of lower interest rates in boosting demand.<\/p>\n \u201cFixed mortgage rates have already increased over recent months and larger rises are expected as the RBA increases the cash rate \u2013 widely expected later in the year,\u201d he said.<\/p>\n \u201cThe outlook for price growth remains subdued, with the speed of official interest rate hikes the big unknown for the market in 2022.\u201d<\/p>\n \u2014<\/p>\n Photo by @dmosipenko on Unsplash<\/p>\n<\/p><\/div>\n
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