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Australian house prices rose by 3.5%

Tuesday, Dec 13 2016
Australian house prices rose by 3.5%

Residential property prices rose 3.5 per cent through the year, the weakest growth since March quarter 2013 and a decline from the peak of 10.7 per cent a year ago, according to figures released today by the Australian Bureau of Statistics (ABS). In the September quarter, residential property prices continued to fall in Perth and Darwin, while prices rose in all other capital cities.

Sydney recorded the largest quarterly residential property price growth of all capital cities, with house prices rising 2.9 per cent and attached dwellings 2.1 per cent. Melbourne recorded the strongest through the year growth of 6.9 per cent, followed by Hobart at 6.8 per cent. The total value of Australia's 9.8 million residential dwellings increased $112.1 billion to $6.2 trillion. The mean price of dwellings in Australia is now $631,000.

 

Aussie is currently being traded around 0.75 handle. Pair is likely to find support around 0.7450 area and resistance above 0.7550 level.

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