ABS: Sydney drove property prices down in September quarter

Tuesday 12 December 2017

The ABS has today released its property price index – incorporating both detached houses and units – which registered a 0.2% decline in home values nationally over the September quarter but an 8.3% gain over the year, a slowing from the 10.2% annual growth initially reported in the year to June:

Sydney (-1.4%), Perth (-1.0%), Darwin (-2.6%) and Canberra (-0.2%) each recorded value falls over the quarter, whereas Melbourne (+1.1%), Brisbane (+0.7%), Adelaide (+0.7%) and Hobart (+3.4%) values rose.

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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.