Brisbane leads cities in house price growth

Posted on 5/02/2008  

There are so many discrepancies in median prices published by commercial enterprises, it’s always a relief when the Australian Bureau of Statistics publishes its House Price Index. So now we can tell you that Brisbane led the nation in capital city capital growth in 2007.

 

The Brisbane House Price Index rose 21.6%, followed closely by Adelaide’s 20.2%, Melbourne had a big year also, but the 18.1% recorded by the ABS is somewhat less than the more bullish figures published by other entities, including the (always bullish) Real Estate Institute of Victoria.

 

Canberra had another strong year, with growth of 14.3%, but Sydney continued to lag behind the trend-setters, with its House Price Index up 8% (an improvement on the three previous years but a long way short of the booming cities). Even Hobart, a city with precious little to drive up its prices, did better than Sydney in 2007.

 

The demise of the Perth boom is confirmed, with growth of just 1.1% in 2007.

 

The full list of capital cities and growth in the House Price Index between December 2006 and December 2007 is:-

 

Brisbane 21.6%

Adelaide 20.2%

Melbourne 18.1%

Canberra 14.3%

Hobart 11.1%

Darwin 11.1%

Sydney 8%

Perth 1.1%

 

ENDS

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