Australia Home Prices Slide 0.7% In Q2

By | September 18, 2018

Home rates in Australia were down 0.7 percent on quarter in the second quarter of 2018, the Australian Bureau of Stats said on Tuesday – in line with expectations and the same from the 3 months prior.

The capital city home price indexes fell in Sydney (-1.2 percent), Melbourne (-0.8 percent), Perth (-0.1 percent) and Darwin (-0.9 percent), and increased in Brisbane (+0.7 percent), Hobart (+3.0 percent), Adelaide (+0.3 percent) and Canberra (+0.6 percent).

On a yearly basis, home costs dipped 0.6 percent versus expectations for a loss of 0.7 percent after rising 2.0 percent in Q1.

Annually, residential property costs fell in Darwin (-6.1 percent), Sydney (-3.9 percent) and Perth (-0.9 percent), and increased in Hobart (+15.5 percent), Canberra (+3.0 percent), Melbourne (+2.3 percent), Adelaide (+2.1 percent) and Brisbane (+1.7 percent).

The overall worth of residential residences in Australia was A$ 6,926,538.0 million at the end of the June quarter 2018, falling A$ 13,321.1 million over the quarter.

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