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The annual growth in housing prices accelerates in Australia
The annual growth in housing prices accelerates in Australia
May 04, 2010In Q1 2010 the average cost of residential property in the country has soared by 20%, compared to the same period last year. In Q4 2009, the growth worked out 13.5%.
Housing prices have increased most significantly in Melbourne, Sydney and Canberra, RTTNews says, citing data provided by the Australian Bureau of Statistics.
In quarterly terms, over January-March, prices have also increased by 4.8%. However, the pace of quarterly growth, in contrast to the annual, has slowed down.
We would like to remind you that comparable data on the dynamics of Australian housing prices has previously been published by the Australian Property Monitors company. However, according to the company’s estimates, the level of price growth was less significant than suggested by official statistics.
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