The Australian realty market is thriving, despite the low economic growth of the country. By the end of the third quarter of 2015, housing prices in 8 major cities of Australia increased by 11.4% (9,72% inflation-adjusted) in comparison with the similar period of 2014. Tells about this international real estate portal Global Property Guide with reference to data from the Australian Bureau of Statistics (ABS).
Most prices rose in Sydney. In the third quarter of last year, they rose by 19.9% (18.1% of inflation-adjusted) in comparison with the third quarter of 2014. Followed by Melbourne (+9.9 per cent), Canberra (+4%), Brisbane (+3.8 per cent), Adelaide (+3.5%) and Hobart (+1,7%).
In contrast, the largest decline in house prices was recorded in Perth (-3,3%) and Darwin (-2%).
The average price of residential properties in Australia for September 2015 was AU$612 200 ($429 734), which is 10.2% more than in the same period of 2014.
In New South Wales is the most expensive housing in the country. Its average price in the third quarter of 2015 amounted to AU$780 900 ($548 152) that is approximately 30% higher than the average for the country. And, on the contrary, the cheapest accommodation can be found in Tasmania: AU$321 100 (U$225 396).
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