The latest ABS data on Residential Property Prices to Jun 2017 are out. They show considerable variations across the states, with Melbourne leading the charge, and Perth and Darwin languishing.
The price index for residential properties for the weighted average of the eight capital cities rose 1.9% in the June quarter 2017. The index rose 10.2% through the year to the June quarter 2017.
The capital city residential property price indexes rose in Sydney (+2.3%), Melbourne (+3.0%), Brisbane (+0.6%), Adelaide (+0.8%), Canberra (+1.3%) and Hobart (+1.8%) and fell in Perth (-0.8%) and Darwin (-1.4%).
Annually, residential property prices rose in Sydney (+13.8%), Melbourne (+13.8%), Hobart (+12.4%), Canberra (+7.9%), Adelaide (+5.0%) and Brisbane (+3.0%) and fell in Darwin (-4.9%) and Perth (-3.1%).
The total value of residential dwellings in Australia was $6,726,783.5m at the end of the June quarter 2017, rising $145,868.5m over the quarter.
The mean price of residential dwellings rose $12,100 to $679,100 and the number of residential dwellings rose by 40,000 to 9,906,100 in the June quarter 2017.
