ABS: property prices boom in December quarter

Tuesday 21 March 2017

The ABS has today released its property price index – incorporating both detached houses and units – which registered a 4.1% rise in home values nationally over the December quarter and a 7.7% gain over the year, an acceleration from the 3.5% annual growth recorded in the year to September 2016:

Sydney (+5.2%), Melbourne (+5.3%), Brisbane (+2.2%), Perth (+0.3%), Adelaide (+1.8%), Canberra (+2.8%), and Hobart (+4.5%) all recorded value increases over the quarter, whereas Darwin (-1.5%) values fell.

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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.