6416.0 - Residential Property Price Indexes: Eight Capital Cities, Jun 2016 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 20/09/2016   
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20 September 2016
Embargo: 11.30 am (Canberra time)

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 today 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.

Further details can be found in Residential Property Price Indexes: Eight Capital Cities (cat. no. 6416.0), available for free download from the ABS website: https://abs.gov.au.

Media notes:
  • Established houses are detached residential dwellings on their own block of land, regardless of age.
  • The term 'attached dwellings' includes flats, units and apartments plus semi-detached, row and terrace houses.
  • The value and mean price of residential dwellings includes any land.
  • When reporting ABS data, the Australian Bureau of Statistics (or ABS) must be attributed as the source.
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