Aus property prices up 4.2%

According to the Australian Bureau of statistics, the average growth accross the top 8 Australian cities is 4.2% for the last quarter.

ESTABLISHED HOUSE PRICES
Quarterly Changes

Preliminary estimates show the price index for established houses for the weighted average of the eight capital cities increased 4.2% in
the June quarter 2009.

There were price rises in all capital cities with Sydney (+4.9%), Melbourne (+5.2%), Perth (+2.7%), Brisbane (+2.5%) and Adelaide (+3.4%) the major contributors to the weighted average of the eight capital cities. There were smaller contributions from Canberra (+3.6%), Hobart (+2.5%) and Darwin (+2.4%).

The movement in the preliminary established house price index between December quarter 2008 and March quarter 2009 has been revised from an estimated decrease of 2.2% to an estimated decrease of 1.5%.

ANNUAL CHANGES (JUNE QUARTER 2008 TO JUNE QUARTER 2009)

Over the year to June 2009, preliminary estimates show that the price index for established houses for the weighted average of the eight
capital cities decreased 1.4%.

Go to http://www.ipsinvest.com/News.aspx?id=175 to download the article.