News and Media

Signs of strengthening property prices

The Australian Bureau of Statistics House Price Index figures report a glossier picture for the recent September quarter established house price averages across eight capital cities, with a smaller 1.2% average dip across capitals, compared to the 2.2% drop recorded in the 12 months to the September quarter.

The established house price average for the September quarter saw the greatest slide of 2.5 per cent in Brisbane, followed by Canberra (-2.0%), Melbourne (-1.7%), Perth (-1.3%), Hobart (-1%), Adelaide (-0.9%), Darwin (0.4%), and Sydney with the smallest drop of 0.2%.

When comparing each individual capital's performance against the September quarter and the 12 months to the September quarter, Hobart is the only capital to see a greater fall in the September quarter (-1.0%), compared to the annual change (-0.3%).

However the comparative data also indicates that Brisbane, Adelaide, Perth and Darwin are leading the price recovery and overall house prices across capitals are demonstrating signs of strengthening.

Refer to the article for September key figures, as released by the Australian Bureau of Statistics.

Reproduced with permission. Australian Property Investor magazine. 'Signs of strengthening property prices.' 2 November 2011