Property prices fall in September quarter: ABS

Property prices fall in September quarter: ABS
Property prices fall in September quarter: ABS

Average home prices across all eight capitals fell 0.2 per cent in the September quarter, the first decline since the March quarter of 2016, according to the Australian Bureau of Statistics’ Residential Property Price Index.

Sydney apartments, townhouses and semi-detached homes fell 1.4 per cent in the quarter, the ABS figures showed.

House prices also turned negative with values falling 1.3 per cent.

Average capital city prices were up 8.3 per cent on the same period a year earlier.

Hobart posted the strongest annual gains being up 13.8 per cent, while prices in Melbourne were up by 13.2 per cent and Sydney had a 9.4 per cent gain.

House prices in Melbourne rose 1.6 per cent in the September quarter.

Perth (-0.9 per cent) and Darwin (-2.5 per cent) continued their decline.

Hobart's dwelling values jumped 3.4 per cent in quarter, greater than in any other city.

Apartment values fell in Melbourne (-0.4 per cent), Perth (-1.3 per cent), Darwin (-2.8 per cent) and Canberra (-1.1 per cent) in the September quarter.

 

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