ABS: House price inflation slowing

Tuesday 10 February 2015

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).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.