The latest ABS data, released today shows that the price index for residential properties for the weighted average of the eight capital cities rose 1.9% in the December quarter 2014. The index rose 6.8% through the year to the December quarter 2014. The total value of residential dwellings in Australia was $5,399,951.8m at the end of December quarter 2014, rising $124,445m over the quarter. The mean price of residential dwellings rose $10,900 to $571,500 and the number of residential dwellings rose by 38,000 to 9,448,300 in the December quarter 2014.
The capital city residential property price indexes rose in Sydney (+3.4%), Melbourne (+1.3%), Brisbane (+1.4%), Adelaide (+0.8%), Perth (+0.3%), Hobart (+1.0%) and Canberra (+0.2%) and fell in Darwin (-0.6%). Annually, residential property prices rose in Sydney (+12.2%), Brisbane (+5.3%), Melbourne (+4.5%), Adelaide (+2.5%), Hobart (+2.2%), Canberra (+1.7%), Perth (+1.2%) and Darwin (+0.8%).
