ABS:Sydney property prices rise in June quarter 2016
Sydney property prices rose in June quarter 2016 after six months of falls, according to figures released by the Australian Bureau of Statistics (ABS).
Prices for established houses in Sydney rose 3.2 per cent and attached dwellings rose 2.0 per cent.Residential property prices fell in Perth and Darwin, while prices rose in all other capital cities.
Melbourne recorded the strongest through the year growth of 8.2 per cent, followed by Canberra at 6.0 per cent.Established house prices for the eight capital cities rose 2.3 per cent and attached dwellings rose 1.4 per cent in the June quarter 2016.
The total value of Australia’s 9.7 million residential dwellings increased $138.3 billion to $6.0 trillion. The mean price of dwellings in Australia is now $623,000.