Sydney leads with strong house price growth

 

Figures released today by the Australian Bureau of Statistics (ABS) confirm the sustained growth in Sydney house prices and a general increase across the eight capital city weighted average.

The ABS established house price index for Sydney rose 3.6 per cent, the largest capital city rise in the September 2013 quarter, and the eight capital city weighted average increased 1.9 across the same period, for a total rise of 7.6 per cent over the last year.

Other increases were in Melbourne (plus 1.9 per cent), Brisbane (plus 1.2 per cent), Perth (plus 0.2 per cent), Hobart (plus 1.4 per cent) and Darwin (plus 0.4 per cent), while Canberra (down 1.2 per cent) and Adelaide (down 0.6 per cent) fell.

"This is the first time since 2010 that the capital city average has shown four consecutive quarters of growth year on year," said Robin Ashburn from the ABS.

"Sydney's rises were broad based in the September quarter, with most areas going up, but prices were mixed in Melbourne, with some areas showing rises and others falls.”

Posted by Charles Tarbey on 19/11/2013 at 12:00 AM | Categories:

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