Monday, August 9, 2010

Last 12 months saw Oz property prices soar by almost 20% but figures also expect a slowdown

Residential property prices in major Australian cities have increased by almost 20% in the last 12 months, according to the latest figures to be released. Â The data from the Australian Bureau of Statistics shows average quarterly growth to June of 3.1% and an annual increase of 18.4%.

The data shows growth of almost double that of the private sector RP Data/Rismark index released last week which showed national city dwelling values up 10.5% in the same period.

In Melbourne house prices increased more than 24% in the last year while in Sydney they rose 21%, according to the ABC figures. Canberra saw a 19.6% price increase, Darwin 14.6%, Perth 13%, Adelaide 11.l6%, Hobart 10.8% and Brisbane 8.5%.


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