Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

Sydney prices soar over September quarter

New figures show Sydney property prices jumped 18.9 per cent over the year and 8.9 per cent over the quarter.

The booming Sydney market helped push the average property price above $600,000 during the last financial year.

The mean price of a capital city home reached $604,700 at the end of 2014-15 after rising 9.0 per cent during the year, according to new data from the Australian Bureau of Statistics.

Prices in all capital cities combined rose 9.8 per cent during 2014-15 and 4.7 per cent during the final quarter of the financial year.

Australia’s other standout market was Melbourne, which grew 7.8 per cent over the year and 4.2 per cent over the quarter.

Advertisement
Advertisement

Brisbane posted 2.9 per cent annual growth and 0.9 per cent quarterly growth, Canberra posted 2.8 per cent annual growth and 0.8 per cent quarterly growth and Adelaide posted 2.7 per cent annual growth and 0.5 per cent quarterly growth.

Hobart grew 1.5 per cent over the year – exactly the same as Australia’s inflation rate – and 0 per cent over the quarter.

Australia’s two struggling markets both went backwards: Darwin fell 1.8 per cent over the year and 0.8 per cent over the quarter, while Perth fell 1.2 per cent over the year and 0.9 per cent over the quarter.

There were 9.5 million homes in Australia at the end of 2014-15 – an increase of 1.7 per cent on the previous year.

Sydney prices soar over September quarter
>The booming Sydney market helped push the average property price above $600,000 during the last financial year.

The mean price of a capital city home reached $604,700 at the end of 2014-15 after rising 9.0 per cent during the year, according to new data from the Australian Bureau of Statistics.

Prices in all capital cities combined rose 9.8 per cent during 2014-15 and 4.7 per cent during the final quarter of the financial year.

Australia’s other standout market was Melbourne, which grew 7.8 per cent over the year and 4.2 per cent over the quarter.

Brisbane posted 2.9 per cent annual growth and 0.9 per cent quarterly growth, Canberra posted 2.8 per cent annual growth and 0.8 per cent quarterly growth and Adelaide posted 2.7 per cent annual growth and 0.5 per cent quarterly growth.

Hobart grew 1.5 per cent over the year – exactly the same as Australia’s inflation rate – and 0 per cent over the quarter.

Australia’s two struggling markets both went backwards: Darwin fell 1.8 per cent over the year and 0.8 per cent over the quarter, while Perth fell 1.2 per cent over the year and 0.9 per cent over the quarter.

There were 9.5 million homes in Australia at the end of 2014-15 – an increase of 1.7 per cent on the previous year.

Sydney prices soar over September quarter
mortgagebusiness

Latest News

While the central bank went hard on its third consecutive 50-bp hike – without considering another option – the August minutes reveal it...

The state’s Premier has said residents impacted by this year’s floods will be offered buy-backs and land swaps, however no date has been...

Australia’s regional homes are following trends observed in capital cities, with prices dropping by 20 bps over the three months to July. ...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think the new NSW property tax will help or hinder first home buyers?

Website Notifications

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