ABS: Sydney, Melbourne drove property prices up 1.9% in Q2

Tuesday 19 September 2017

The ABS has today released its property price index – incorporating both detached houses and units – which registered a 1.9% rise in home values nationally over the June quarter and a 10.2% gain over the year, exactly the same as the 10.2% annual growth initially reported in the year to March:

Sydney (+2.3%), Melbourne (+3.1%), Brisbane (+0.6%), Adelaide (+0.8%), Hobart (+1.8%), and Canberra (+1.3%) all recorded value increases over the quarter, whereas Perth (-0.8%) and Darwin (-1.4%) 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.