Residential property prices in Australia climbed 4.7 percent on quarter in the second quarter of 2015, the Australian Bureau of Statistics said on Tuesday.
That topped expectations for an increase of 2.3 percent following the 1.6 percent gain in the first quarter.
By region, capital city residential property price indexes rose quarterly in Sydney (8.9 percent), Melbourne (4.2 percent), Brisbane (0.9 percent), Adelaide (0.5 percent) and Canberra (0.8 percent).
Prices were flat in Hobart fell in Perth (0.9 percent) and Darwin (0.8 percent).
On a yearly basis, house prices spiked 9.8 percent – also beating forecasts for an increase of 8.0 percent and up from 6.9 percent in the three months prior.
By region, residential property prices rose in Sydney (18.9 percent), Melbourne (7.8 percent), Brisbane (2.9 percent), Canberra (2.8 percent), Adelaide (2.7 percent) and Hobart (1.5 percent).
Prices fell in Darwin (1.8 percent) and Perth (1.2 percent).
The total value of residential dwellings in Australia was A$5.761 trillion in the second quarter, up A$271.939 billion from Q1.
The mean price of residential dwellings climbed A$26,200 to A$604,700 and the number of residential dwellings rose by 38,400 to 9,528,300 in Q2.
The material has been provided by InstaForex Company – www.instaforex.com