Housing Hurting

The Australian weighted average median prices for houses and other dwellings have experienced their largest quarterly fall compared with previous quarters for the past five years, according to the Mortgage Choice/REIA Real Estate Market Facts released today. The Australian weighted average median house price decreased from $471,300 in the December quarter 2007 to reach $458,488 in March quarter 2008, a decrease of 2.7% over the quarter. The Australian weighted average other dwelling price also decreased by 2.7% over the quarter to $355,297.