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Sydney house prices rise after six months of falls, Perth and Darwin slip
Tuesday, 20 Sep 2016 09:56:29 | Thuy Ong
A house nears completion, August 2013 (ABC News)
New figures show property prices rose in the June quarter, with Sydney posting a rise after six months of falls, while prices fell in Perth and Darwin.
The Australian Bureau of Statistics Home Price Index rose 2 per cent for the June quarter, slightly missing analyst expectation, with those polled by Reuters expecting a rise of 2.5 per cent.
For the year, prices rose 4.1 per cent.
In Sydney, prices for established houses rose 3.2 per cent, while attached dwellings — meaning flats, apartments and terrace houses — rose 2 per cent. Perth and Darwin were the only cities where house prices fell, losing 1.2 per cent and 2.4 per cent in the quarter respectively.
The ABS said the total value of Australia's 9.7 million residential homes increased by $138.3 billion to $6 trillion, with the mean price of dwellings in Australia sitting at $623,000.
June key figures
| March quarter 16 to June Quarter 16 | June quarter 15 to June quarter 16 | |
|---|---|---|
| Residential Property Prices | % change | % change |
| Weighted average of eight capital cities | 2.0 | 4.1 |
| Sydney | 2.8 | 3.6 |
| Melbourne | 2.7 | 8.2 |
| Brisbane | 1.1 | 4.3 |
| Adelaide | 0.8 | 3.5 |
| Perth | -1.2 | -4.8 |
| Hobart | 0.7 | 4.9 |
| Darwin | -2.4 | -6.5 |
| Canberra | 2.2 | 6.0 |
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