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Domain Data Shows Rising Prices

Domain Data Shows Rising PricesIncreases in interest rates did not stop prices rising in most capital city property markets during the June Quarter, according to new price data from Domain.

The Domain House Price Report published on 28 July shows that median house prices rose in six of the eight capital cities in the June Quarter, with a similar result for capital city apartment markets, despite interest rate hikes in May and June.

The report indicates that Adelaide led house price growth in the quarter, with its median price rising 3.6%, followed by Canberra (1.8%) and Perth (1.4%).

Brisbane, Hobart and Darwin recorded smaller growth in their median house prices, with Sydney and Melbourne the only capital cities to record decreases in house medians.

In the capital city apartment markets, Canberra led with a 4.4% quarterly increase, while Adelaide (4.0%) and Darwin (3.0%) also had solid rises.

Brisbane, Melbourne and Hobart also recorded increases in their median apartment prices in the June Quarter.

The only capital cities to record falls in their unit markets were Sydney and Perth, according to the Domain report.

The overall national results for the combined capital cities were a 0.1% rise for apartments and a 0.9% decrease for houses.


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