Finder makes money from featured partners, but editorial opinions are our own.

Sydney property prices bounce back

property australia


However, dwelling values in Perth and Darwin slipped last quarter.

Property prices in Australia's largest city, Sydney, rose modestly in the June quarter, after six consecutive months on a negative trajectory.

The gains were reported by the Australian Bureau of Statistics (ABS) in its latest quarterly capital cities residential property price index.

Sydney house prices rose 3.2% quarter-on-quarter in June, while attached dwellings (apartments, units and semi-detached row and terrace houses) increased 2% over the same period.

This follows two consecutive quarters of price falls for both established and attached dwellings in Sydney.

The June quarter rises were bolstered by increased value in the middle and mid-low segments ($620,000 to $1.5 million) of Sydney's housing market, as well as the middle segment of the attached dwellings market ($470,000 to $1 million).

Prices in most capital cities across Australia enjoyed temperate rises in the June quarter, aside from properties in Darwin and Perth which fell 2.4% and 1.2% respectively.

In terms of annual property price growth, Melbourne posted the greatest gains of 2015/16, with total dwelling values rising 8.2% year-on-year.

Canberra (6%), Hobart (4.9%), Brisbane (4.3%), Sydney (3.6%) and Adelaide (3.5%) also saw annual gains in property prices.

Darwin (-6.5%) and Perth (-4.8%) were the only two cities to post year-on-year losses.

Across all eight capital cities, average house prices rose 2% in the June quarter and 4.1% through the year.

The mean price of residential dwellings in NSW ($799,500) remains the highest across Australia, followed by Victoria ($646,400) and the ACT ($622,900). The lowest mean price is in Tasmania ($320,000).

The total value of Australia's 9.7 million residential dwellings jumped $138.3 billion to more than $6 trillion. The average (mean) property price in Australia is now $623,000.

Despite these increases, home loan rates are lower than we've ever seen before. It's easy to compare rates and providers and secure the best loan possible.

Latest home loan headlines

Picture: Shutterstock

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site