Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

House prices continue to climb

Staff Reporter 1 minute read

The Australian Bureau of Statistics Index of established house prices has risen for the second consecutive quarter, suggesting the property market is continuing to thrive.

The housing Industry Association’s (HIA) chief economist Dr Harley Dale said the price increase was a positive sign for the industry.

“Increasing signs of life in the real estate market this year has helped boost consumer confidence and spending and has been a component of Australia’s economic out-performance,” he said.

“As we head towards 2010 we need a keen focus on lifting new home construction to an extent that removes unnecessary upward pressure on home prices.

“A recovery in new residential construction is underway, but there is a very real risk that costly delays in planning approvals and land shortages will combine to blunt the magnitude of that recovery.”

The weighted average capital city established house price index increased by 4.2 per cent in the September 2009 quarter to be 6.2 higher when compared to the same period last year.

The established house price index increased by 4.3 per cent in Sydney, 4.7 per cent in Melbourne, 4.4 per cent in Brisbane, 1.7 per cent in Adelaide, 4.5 per cent in Perth, 1.8 per cent in Hobart, 3.4 per cent in Darwin, and 4.3 per cent in Canberra.

The weighted average index for project homes across Australia’s eight capital cities increased by 1.3 per cent in September.

House prices continue to climb
default
TheAdviser logo
default

 

more from the adviser
mortgage payments money Quiet January period hammers mortgage activity

NSW has led the states in a steep fall in mortgage market activit...

cars ta Nodifi expands into novated leasing

The asset finance platform has released a novated leasing service...

handshake 2 AFG adds specialist lender to lender panel

The aggregation group has appointed a specialist lender to its as...

FROM THE WEB