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Sydney and Melbourne drive property price rise of 1.9%

20 Septembre 2017

"Residential property prices, while continuing to rise in Melbourne and Sydney this quarter, have begun to moderate", chief economist for the ABS Bruce Hockman said.

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.

"Canberra has underperformed those markets in the last 5 or so years compared to the almost 80 per cent increase in values of Sydney and Melbourne over the same time".

That price growth in Canberra has been steadily accelerating since 2013, but still failed to reach the eight capital city average of 10.2 per cent for June, driven largely by the country's two largest markets, Sydney and Melbourne, which grew by 14.4 per cent and 13.4 per cent respectively. The mean price of dwellings in Australia rose by $12,100 over the quarter to $679,100.

Victoire de Van Vleuten
Chloe Dygert (USA) 5. " Katrin Garfoot (Australie) est la seule à se maintenir à portée en prenant la 3e place à 18". La Néerlandaise s'est montrée la plus rapide sur les 21.1 kilomètres du parcours.

While the growth will be unwelcome news for first-home buyers in the ACT, apartment values had not grown to the same extent as detached homes and remained more affordable.

Sydney and Melbourne each recorded home price growth of 13.8 per cent in the year to June, and Melbourne was the strongest property market in the June quarter with growth of three per cent.

Mr Workman said new measures from the federal government and some state governments will reduce lending to property investors and could slow home price growth. These rises where somewhat offset by prices falls in Perth (0.8%) and Darwin (1.4%).

Sydney and Melbourne drive property price rise of 1.9%