The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterMon 14 Dec 15

Dwelling Prices Highlight Divergence In Housing Conditions

1

ABS figures released today show significant variation in dwelling price growth across the eight capital cities, said the Housing Industry Association (HIA).

Annual growth in the weighted average residential property price accelerated to 10.7 per cent in the September 2015 quarter, a result driven by accelerating prices in Sydney and Melbourne. Elsewhere, residential property prices recorded steady annual growth, except for Perth and Darwin, where prices in the September 2015 quarter were lower than a year previously.

“Outside of Sydney and Melbourne, residential property prices are growing at fairly steady, if not modest, annual rates – between 1.7 per cent and 4.0 per cent,” commented HIA economist, Diwa Hopkins.

“In Perth and Darwin prices actually declined by 3.3 per cent and 2.0 per cent, respectively.”

“Overall, the significant variation in dwelling price growth – something we’ve been observing for some time now – continued in the September quarter this year, illustrating very different economic and housing conditions underlying the different capital cities.”

“Other less dated measures of dwelling prices show that wide variation in dwelling price growth continued into November this year. The rate of growth in Sydney, however, has decelerated noticeably. We expect to see this deceleration to similarly emerge in ABS data for the December 2015 quarter.”

In the year to September 2015, dwelling price growth was strongest in Sydney (+19.9 per cent), followed by Melbourne (+9.9 per cent). Annual price growth was more modest in Canberra (+4.0 per cent),Brisbane (+3.8 per cent), Adelaide (+3.5 per cent) and Hobart (+1.7 per cent). Over the same 12 month period, dwelling prices declined in both Perth (-3.3 per cent) and Darwin (-2.0 per cent).

ResidentialAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Brains, Guts and Determination: How Salvo Property Has Shaped Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
Breathe Architecture founder Jeremy McLeod in front of his Featherweight Home design
Exclusive

Nightingale Founder’s Bid for Affordable Architectural Kit Homes

Leon Della Bosca
7 Min
View All >
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
Exclusive

Brains, Guts and Determination: How Salvo Property Has Shaped Melbourne’s Skyline

Marisa Wikramanayake
Data, 3D tech and careful research are vital, but count for little without the courage to back it up, says James Maitlan…
LATEST
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
3 Min
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
3 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Has Shaped Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/dwelling-prices-highlight-divergence-housing-conditions