ABS: property prices continued to boom in Q1

Tuesday 20 June 2017

The ABS has today released its property price index – incorporating both detached houses and units – which registered a 2.2% rise in home values nationally over the March quarter and a 10.2% gain over the year, an acceleration from the 7.7% annual growth initially reported in the 2016 calendar year:

Sydney (+3.0%), Melbourne (+3.1%), Adelaide (+1.5%), Hobart (+2.8%), and Canberra (+2.8%) all recorded value increases over the quarter, whereas Perth (-1.0%) and Darwin (-0.9%) values fell, and Brisbane’s were dead flat.

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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.