fbpx

Red-hot property market sets new record

1 min read

Share on:

Red-hot property market sets new record

The total value of residential dwellings in Australia has surpassed $8 trillion for the first time, according to new data from the Australian Bureau of Statistics.

During the March quarter, the total value of Australia’s 10.6 million homes rose by $449.9 billion – the biggest jump on record.

At the same time, national property prices rose 5.4% – the fastest rate of growth since the December 2009 quarter. The breakdown by capital city was:

  • Sydney = 6.1%
  • Hobart = 6.1%
  • Canberra = 5.6%
  • Perth = 5.2%
  • Melbourne = 5.1%
  • Darwin = 4.7%
  • Brisbane = 4.0%
  • Adelaide = 4.0%
Needing a great deal?

Hit the button below to arrange a conversation with one of my loan specialists to find a deal that’s best for your situation.

We partner with over 50 lenders so you can find the perfect solution

Do you have questions about mortgages or loans?

Ask us in the comments below