Canberra's housing market is falling hard and fast, according to new data which has revealed the capital's median house price has taken a plunge from its peak, but the decline may not last long.
The Domain House Price Report for the March quarter, released on Thursday, revealed the capital's median house price was $1,047,112, down 2.5 per cent over the quarter and 8.4 per cent year-on-year - making it the second most expensive city after Sydney.
But the city's median is far from its peak price which was achieved in the June 2022 period. According to the data, the current median has fallen by 10.9 per cent since then, a $127,472 drop.
