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Melbourne, Sydney lead home prices higher

AAP  |  19 Sep 2017Text size  Decrease  Increase  |  
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BRISBANE - [AAP] Home prices across Australia's capital cities have continued to lift, rising 10.2 per cent in the year to June, thanks to strong growth in Sydney and Melbourne.

Melbourne tied with Sydney--historically the capital with greatest growth in values--with home prices in both cities lifting 13.8 per cent in the year to June, 2017.

Hobart had the third highest growth, with prices there rising 12.4 per cent, followed by Canberra with 7.9 per cent, Adelaide with 5 per cent and Brisbane lifting 3 per cent.

Prices in Perth and Darwin fell, by 3.1 and 4.9 per cent, respectively.

In the June quarter, Australian capital city house prices rose 1.9 per cent, after a 2.2 per cent rise in three months to the end of March and a 4.1 per cent lift in the December quarter.

Melbourne's prices led the way with a 3 per cent increase while Sydney was next with a 2.3 per cent lift, while Perth and Darwin were lower.

The total value of residential dwellings in Australia was $6.7 trillion for the June quarter, up 4.6 per cent on the March quarter, while the mean price of a home rose $12,000 to $679,100.

 

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