The ABS’ quarterly house price index was released earlier this morning with capital city house prices rising 1.9% in the three months to December, a figure that was higher the 1.8% increase expected. Sydney, at +3.4%, recorded the strongest growth while those capitals closest aligned to the mining industry, Perth and Darwin, coming in at +0.3% and -0.6% respectively.
While all capital cities have experienced house price appreciation over the past year it’s clear that the pace of growth is slowing. All capitals logged a deceleration from what was reported in Q3 2014
Over the quarter the total value of all dwelling stock rose to $5.4t, an all-time record high. New South Wales alone accounts for nearly $2.2t of the national total.