Peak of the boom
Residential property prices rose 5 per cent in the September quarter across the 8 capital cities, to be 22 per cent higher than a year earlier.
As one might expect, detached house prices have outperformed attached dwellings since 2003, with an acceleration in house prices through the pandemic.
Over the past year house prices increased 25 per cent, as compared to only half that for attached dwellings.
This has been true even in the most mature and expensive capital city, Sydney, though units have been attracting more interest lately due to affordability challenges.
Hobart led the way with a massive 8 per cent increase in the September quarter, while Sydney, Canberra, and Brisbane each recorded a 6 per cent rise.
Hobart has been the top performing capital city since 2003.
The mean dwelling price increased by $154,500 over the past year to $863,700, with increases of over $200,000 in New South Wales and the ACT.
The total value of the dwelling stock increased to $9¼ trillion.
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