Sydney’s house prices continue to soar, with Australian Bureau of Statistics data showing a 2.7 per cent rise for the September quarter – nearly three times that of Australia’s other cities. Melbourne, Brisbane, Adelaide and Hobart all rose just 1 per cent by comparison, according to Tuesday’s Residential Property Price Index.
Of the other cities, Darwin and Canberra rose 0.3 per cent for the quarter, while Perth prices fell 0.1 per cent. Overall, the nation’s house prices increased by 1.5 per cent.
Sydney’s soaring housing market was also, by far, the strongest performer in the 12 months to September, increasing 14.6 per cent. By comparison, Melbourne and Brisbane rose 6.9 per cent and 6.7 per cent respectively. The nation’s other cities rose even less. read more