Property market sets new record

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%

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