Rent goes up, property prices go down

According to Residex, property prices in Perth, Melbourne and Adelaide are expected to stagnate or even go backwards over the next year. Towns exposed, or dependent on mining and resources industries are also expected to suffer property price falls.

Last month, Sydney's median house price was $565,000, the figures showed. Melbourne, the Australian Capital Territory and Brisbane's median house prices were all above $445,000. Average rent is up to $340 a week from $300 in November last year.