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The Australian Bureau of Statistics (ABS) has released its property price indices for the March quarter – incorporating both detached houses and units – which registered a solid 1.6% quarterly rise in home values, driven by Melbourne (+2.1%) and Sydney (+1.9%):
The other capitals also experienced positive growth.
The ABS also updated its estimated total value of residential properties in Australia, which was $7.2 trillion in March with the average price of Australia’s 10,485,700 residential properties at $690,200:
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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.