According to the latest figures from the Bureau of Statistics, Australia’s capital city weighted average house price rose 0.2 percent in the December quarter from the previous quarter. Across the country, the average house price rose by 8.7 percent compared with the same quarter a year earlier.
Five of our capital cities experienced a rise last quarter while two fell, with Canberra faring best and Darwin lagging furthest behind. The figures in order of growth are as follows: Canberra rose 2.8 percent, Hobart rose 2.5 percent, Melbourne and Brisbane rose 1.6 percent, Adelaide rose 0.9 percent, Perth rose 0.5 percent, Sydney fell 1.6 percent and Darwin fell 1.8 percent.
House price growth has been slowing yet still positive since the middle of last year, as banking regulators moved to put clamps on lending to property investors amid fears that property markets in Sydney and Melbourne had become overheated.
