National property prices are rising: ABS

On Tuesday the Australian Bureau of Statistics (ABS) released their Residential Property Price Indexes June 2016 quarter results. The data showed that property prices around the majority of our capital cities are currently trending upwards.

Our 8 capital cities saw the following residential property price changes between 31 March 2016 and 30 June 2016:

chart-1
Source: Australian Bureau of Statistics 2016

Property prices continue to rise

National residential property prices have continued to rise in recent times thanks to:

  • Strong immigration demand;
  • Strong local and foreign¬†investor demand;
  • A lack of supply in areas of demand;
  • The lowering of interest rates;
  • And various other key reasons.
This chart by the ABS show’s recent national property price gains:
First home buyer activity down
Earlier this month the ABS housing finance data showed that first home buyer activity is down across Australia. Learn more about current first home buyer activity in our blog report.
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