ABS house prices through the roof!

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From the ABS:

JUNE KEY FIGURES

Mar Qtr 15 to Jun Qtr 15
Jun Qtr 14 to Jun Qtr 15
RESIDENTIAL PROPERTY PRICES
% change
% change

Weighted average of eight capital cities
4.7
9.8
Sydney
8.9
18.9
Melbourne
4.2
7.8
Brisbane
0.9
2.9
Adelaide
0.5
2.7
Perth
-0.9
-1.2
Hobart
0.0
1.5
Darwin
-0.8
-1.8
Canberra
0.8
2.8

Total value of the dwelling stock
Jun Qtr 15

Value of dwelling stock(a) ($m)
5 761 607.2
Mean price of residential dwellings ($’000)
604.7
Number of residential dwellings (‘000)
9 528.3

(a) all sectors

Everything is awesome!

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.