Price rises recorded in every capital city
Price rises recorded in every capital city
Posted on Tuesday, February 11 2014 at 4:13 PM
Residential property prices in each of Australia’s capital cities rose in the December quarter of 2013, according to the Australian Bureau of Statistics (ABS).
The
figures show the Residential Property Price Index (RPPI) for the weighted
average of the eight capital cities rose 3.4 per cent for the quarter, with a
total rise of 9.3 per cent over the past year.
Sydney
was the fastest growing capital city with house prices up 4.9 per cent in the
December quarter, while Melbourne rose 2.8 per cent, Perth 3.5 per cent, Brisbane
three per cent, Adelaide 2.8 per cent, Hobart 2.3 per cent, Darwin 2.7 per cent
and Canberra 0.4 per cent.
The
figures showed total value of residential properties in Australia had risen to
$5.02 trillion in the December quarter 2013, up from $4.83 trillion in the
September quarter.
They also show the average price of
Australia’s 9.3 million residential properties is now $539,400, up from $496,800
in the December quarter 2012.
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