Latest figures from Australian Property Monitors’ (APM) March 2009 Quarter Housing Data Report reveal a -6.1% drop in median house prices in Queensland, Australia, in the year ending March 2009.

It is the second worst performance in the country, behind Perth. The median price is now $414,909 - almost $30,000 below that in Melbourne. The report shows unit median prices have fallen -2.8% over the year ending March 2009, to $334,015.

Unemployment and a weakening economy are the biggest risk to housing but large falls are not expected in the capital cities, according to APM.