AU Capital city house prices rise in September quarter
Property Here - Monday, November 04, 2013
AUSTRALIAN capital city house prices rose 1.9 per cent in the September quarter, official data showed.
That followed a rise of 2.7 per cent in the June quarter.
In the year to September, the house price index rose 7.6 per cent, the Australian Bureau of Statistics said on Monday.
The gains are being riven by Australia's two largest housing markets, Sydney and Melbourne and may raise concerns that record low interest rates are fuelling overheating in the country's property market.
However, economists had expected a slightly higher rise of 2.2 per cent for the quarter.
Capital city house price changes for the 12 months to September
Sydney - 11.4%
Melbourne - 6.8%
Brisbane - 4.1%
Adelaide - 1.0%
Perth - 8.6%
Hobart - 1.1%
Darwin - 6.0%
Canberra - 0.6%
Source: Australian Bureau of Statistics