Figures recently releasedby the Australian Bureau of Statistics show that residential property prices have risen in every capital city during the December quarter 2013.
The figures show that the Residential Property Price Index (RPPI) for the weighted average of the eight capital cities (a measure which includes both houses and attached dwellings) rose 3.4% this quarter, for a total rise of 9.3% over the last year. Established house prices rose 3.5% and attached dwelling prices rose 3.0% in the quarter.
According to RPPI Director Robin Ashburn, "Sydney continues to grow at the fastest rate across the country, with house prices rising 4.9% in the December quarter 2013, the third consecutive quarter for which Sydney has had the largest rise in house prices of any capital city."
House price increases in other capital cities included +2.8% in Melbourne, 3.5% in Perth, +3.0% in Brisbane, +2.8% in Adelaide, +2.3% in Hobart, +2.7% in Darwin and +0.4% Canberra.
Prices for attached dwellings, including flats and apartments, rose in all capital cities except Darwin (-0.4%). Prices went up in Sydney (+4.4%), Melbourne (+1.9%), Perth (+2.6%), Brisbane (+2.2%), Adelaide (+1.5%), Hobart (+0.7%) and Canberra (+0.1%).