Agent Login Form

Residential property prices continue to soar in Australia.

Residential property prices in Australia have risen 2.2 percent in the March quarter, resulting in four consecutive quarters of growth, the Australian Bureau of Statistics (ABS) revealed on Tuesday.
Over the year to March, prices have soared 10.2 percent and according to Prices Branch Program Manager at the ABS Marcel van Kints, although most capital cities have increased in price, it’s predominantly Sydney and Melbourne that continue to drive the national result.
“The price rises in Sydney (3.0 percent) and Melbourne (3.1 percent) were partially offset by falls in Perth (1.0 percent) and Darwin (0.9 percent),” van Kints said.
Through the year, Sydney’s prices increased 14.4 percent, which was the highest in the country, above Melbourne at 13.4 percent.
“The variation in dwelling price growth across the country is significant and house price developments in other markets are much weaker,” HIA senior economist Shane Garrett explained in a statement obtained by Xinhua.
“This situation underlines the dangers of applying one size fits all’ policy remedies to the challenges in Australia’s housing market.”
Recently, additional restrictions have been implemented by the Australian Prudential Regulation Authority, which have increased barriers to foreign investor participation.
Although acknowledging there is evidence to suggest dwelling prices growth has slowed as a result of the new regulations, Garrett insisted that the solution to overcoming Australia’s considerable housing affordability problem lies in delivering a greater supply of new dwelling stock in a more cost effective manner.

“We are concerned that some recent policy changes could undermine this objective,” Garrett said.—Xinhua

Ramiz Imtiaz
Linkers Realty
For any query contact +92-335-1369927 | 021-35639700-2

Popular Properties

Luxury Flat - Creek Vista

Apartment Size: 3248 Sq Ft, Approximately 360 Sq Yards, 3 Bed rooms, Car Parking Drawing + Dining Room, Prayer Area, Kids Play Area, Visitors lobby, High Speed Elevator Highly Secure. At Creek Vistas Apartment DHA Phase 8 Karachi one of the Best Project in Karachi with very safe and Secure Environment Own by DHA.

Frere Excellency

The Royal group has been a name synonymous with quality and credibility since its very inception. Our projects have always been received with great admiration for the innovative design, modern construction and exceptional planning. The Royal group strictly believes in winning and retaining the trust of all the valued customers through high quality work.

Property News

The Most Expensive Cities in the World to buy property

3 Beds Apartment | Only 15 Lac (Down Payment)
Clifton Icon