From an RP Data press release:
Australia's housing market is showing signs of
stabilising after home values rose 0.2 per cent in
March. Not only has the market remained unchanged
for the quarter ending 31 March 2012, it is also level
with the 31 November 2011 home values across the
combined capital cities. The flat result over the
quarter is the strongest result since March 2011
when values increased by 0.7 per cent.
According to the managing director of Rismark
International, Ben Skilbeck, “While the housing
market remains soft, the zero per cent change over
the first quarter of 2012 demonstrates that it is
consolidating its position following the decline seen in
calendar year 2011. This month it was the resource
rich states which delivered the strongest gains with
Perth, Darwin and Brisbane up 1.4 per cent, 1.1 per
cent and 0.8 per cent respectively”.
Other market metrics are also showing some improvement. “The number of properties available for sale is
continuing to moderate from the historic highs which peaked late last year and auction clearance rates have
been holding above 50 per cent for most of 2012,” Mr Lawless said.
See: RP Data Press Release . See also Property Observer.
Brisbane apartment prices are up 0.7% for the month, but down 2.3% year on year.