The ABS has today released its property price index – incorporating both detached houses and units – which registered a 1.9% rise in values nationally over the December quarter and a 6.8% gain over the year, down from the 9.0% annual growth recorded in the year to September 2014.
As expected, the growth in property values was once again driven by Sydney – specufestor central – where prices rose by 3.4% over the quarter and by 12.2% over the year. Solid gains were also posted in Brisbane (+5.3% YoY) and Melbourne (+4.5% YoY), whereas growth was less than inflation in Darwin (+0.8% YoY), Perth (+1.2% YoY), and Canberra (1.7% YoY).
