The ABS has today released its property price index – incorporating both detached houses and units – which registered a 2.0% rise in home values nationally over the September quarter and a 10.7% gain over the year, a slight acceleration from the 9.8% annual growth recorded in the year to June 2015.
As expected, the growth in property values was once again driven by Sydney – specufestor central – where prices rose by 3.1% over the quarter and by 19.9% over the year. Strong gains were also posted in Melbourne (+9.9% YoY), whereas Brisbane (+3.8% YoY), Adelaide (+3.5% YoY) and Canberra (+4.0% YoY) recorded more moderate growth. By contrast, growth was negative in Perth (-3.3% YoY) and Darwin (-2.0% YoY).
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