Sydney's house prices continue to soar
Didn't see this reported in Domain , but in the business section of the SMH , we got the report of Sydneys continued strength
Sydney's house prices continue to soar
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.
For established houses in Sydney, almost all segments of the market showed strong price rises. Those with prices of between $500,000 and $2.2 million contributed most to the rise, said the ABS.
For Sydney's attached dwellings (apartments plus semi-detached row houses) those with prices of between $550,000 and $650,000 rose the most.
CLiff