Residential Property Price Indexes (July – September) Summary by ABS

The Australia Bureau of Statistics (ABS) has just released a Residential Property Price Report for the last quarter (from July to September). These quarterly reports provide Key Points for any changes in Residential Property Prices. The September quarter key statistics is summarised in the table below:

Residential property prices Jun Qtr 2019 to Sep Qtr 2019 – % change Sep Qtr  2018 to Sep Qtr 2019 – % change
Weighted average of eight capital cities 2.4 -3.7
Sydney 3.6 -4.6
Melbourne 3.6 -3.5
Brisbane 0.7 -2.6
Adelaide -0.3 -1.0
Perth -1.2 -4.6
Hobart 1.3 2.1
Darwin -1.2 -5.4
Canberra -0.5 -1.4

 

According to the information reported, the average Residential Property Price Index for the last quarter rose by 2.4%. Compared to last year, there’s been an overall decrease of 3.7%. 

 

Melbourne and Sydney have shown strong growth with their increase of 3.6%. As previously reported, both cities have continued to show strong growth in recovery. 

 

Overall, recovery from 2017 fall is still in process with property price growth being led by Melbourne and Sydney. Even recent news has reported predictions of the stronger and faster growth in Melbourne and Sydney. 

 

Find the full report by ABS here.

 

 

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