The ABS released their home price data series to December 2017 today. Sydney prices fell over the past quarter, along with Darwin. Other centres saw a rise, but the rotation is in hand.
The price index for residential properties for the weighted average of the eight capital cities rose 1.0% in the December quarter 2017. The index rose 5.0% through the year to the December quarter 2017.
The capital city residential property price indexes rose in Melbourne (+2.6%), Perth (+1.1%), Brisbane (+0.9%), Hobart (+3.9%), Canberra (+1.7%) and Adelaide (+0.6%) and fell in Sydney (-0.1%) and Darwin (-1.5%).
Annually, residential property prices rose in Hobart (+13.1%), Melbourne (+10.2%), Canberra (+5.7%), Sydney (+3.8%), Adelaide (+3.6%) and Brisbane (+2.1%) and fell in Darwin (-6.3%) and Perth (-1.7%).
The total value of residential dwellings in Australia was $6,869,006.7m at the end of the December quarter 2017, rising $92,858.9m over the quarter.
The mean price of residential dwellings rose $6,500 to $686,700 and the number of residential dwellings rose by 40,400 to 10,003,100 in the December quarter 2017.
