Australia House Prices Slide 0.7% In Q2

Australia House Prices Slide 0.7% In Q2

House prices in Australia were down 0.7 percent on quarter in the second quarter of 2018, the Australian Bureau of Statistics said on Tuesday — in line with expectations and unchanged from the three months prior.

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

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

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

The total value of residential dwellings 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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