Sydney leads residential price index for June quarter: ABS

Sydney leads residential price index for June quarter: ABS
Sydney leads residential price index for June quarter: ABS

New figures from the Australian Bureau of Statistics show the weighted average price index for residential properties across the eight capital cities rose 4.7% in the June quarter.

According to the Residential Property Price Indexes, the index rose 9.8% through the year to the June quarter.

"Capital city residential property price indexes rose in Sydney (8.9%), Melbourne (4.2%), Brisbane (0.9%), Adelaide (0.5%) and Canberra (0.8%), was flat in Hobart (0.0%) and fell in Perth (-0.9%) and Darwin (-0.8%)," it noted.

"Annually, residential property prices rose in Sydney (+18.9%), Melbourne (+7.8%), Brisbane (+2.9%), Canberra (+2.8%), Adelaide (+2.7%) and Hobart (+1.5%) and fell in Darwin (-1.8%) and Perth (-1.2%).

"The total value of residential dwellings in Australia was $5,761,607.2m at the end of June quarter 2015, rising $271,939.1m over the quarter. The mean price of residential dwellings rose $26,200 to $604,700 and the number of residential dwellings rose by 38,400 to 9,528,300 in the June quarter 2015."

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Sydney leads residential price index for June quarter: ABS

Click to enlarge

Sydney leads residential price index for June quarter: ABS

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

Tags: 
Price Index Residential Properties

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