House prices continued to improve in the last months of 2012, according to new figures released by the Australian Bureau of Statistics.
Preliminary estimates show the price index for established houses in the eight capital cities rose 1.6 per cent in the December quarter 2012. This was the strongest quarterly growth in almost three years.
Prices rose in Sydney (up by 2.3 per cent), Perth (up 2.9 per cent), Melbourne (0.7 per cent), Brisbane (0.7 per cent), Adelaide (0.8 per cent), Canberra (2.1 per cent) and Darwin (2.6 per cent). The only city to record a fall for the quarter was Hobart with a drop of 1.4 per cent.
In the twelve months to end December 2012, the average price for established houses rose 2.1 per cent.
Annually, house prices rose in Darwin (up by 10.1 per cent), Perth (up 5.6 per cent), Sydney (4.2 per cent), Brisbane (0.7 per cent) and Canberra (0.3 per cent) and fell in Hobart (dropping 6.1 per cent), Adelaide (down 0.4 per cent) and Melbourne (0.2 per cent).