Average House Price Now $612,100 With An Average Rise Of $800

The ABS has released figures which so the average price of residential dwellings rose by $800 to $612,100 and the number of residential dwellings rose by 38,700 to 9,615,800 in the December quarter 2015.

The total value of residential dwellings in Australia was $5,885,967.2m at the end of December quarter 2015, rising $31,557.1m over the quarter.

The capital city residential property price indexes rose in Melbourne by 1.6%, Brisbane 1.6%, Adelaide 0.9%, Perth 0.5% and Hobart 2.5%. Canberra saw the highest rise with 2.8%.

It was bad news in Sydney​ and Darwin where the capital city residential property price indexes fell,Sydney -1.6% and Darwin -1.8%.

When it come to the residential property prices the highest rise was in Sydney with 13.9%, Melbourne 9.6%, Canberra 6.0%, Brisbane 4.2%, Hobart 3.5% and Adelaide 3.3% while residential property prices fell in Darwin -3.2% and Perth -2.9%.