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House prices fall in September quarter

Staff Reporter 3 minute read

Despite optimism for property values for the year ahead, ABS data showed today that house prices suffered further falls in most capital cities over the September quarter.

Brisbane house prices saw the biggest fall dropping 3.3 per cent since the June quarter, followed by Canberra where prices declined 2.5 per cent.

Hobart and Darwin were the only two cities to record positive growth of 0.7 and 0.1 per cent.

Despite the disappointing quarterly result, Australian house prices continued to rise on a year-on-year basis by 2.8 per cent, the data showed.

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Darwin recorded the strongest growth in the year to September of 6.4 per cent.

Published: 03-11-08

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