Property prices continued on their growth path in October, with house prices up 1.6% and apartment prices rising 1.2% nationally. This brings annual growth rates to 24.2% for houses and 13.3% for apartments, led by strong uplift in regional markets.
In the apartments markets, the Combined Regions have risen 22.5% in annual terms, compared to 11.8% in the Combined Capitals.
In the housing markets, growth in October was led by 2.8% in Brisbane, followed by rises of 2.0-2.2% in Adelaide, Regional NSW and Hobart. There were increases of 1.8-1.9% in Regional Tasmania, Regional Queensland, Regional Victoria and Canberra.
In the August-September-October quarter, the Combined Regions rose 5.3%, compared to 4.8% in the Combined Capitals.
The largest quarterly rise occurred in Brisbane (up 7.1%), followed by Adelaide (6.5%) and Regional NSW, Regional Tasmania, Canberra and Hobart (which all increased 6.4%). The highest annual growth has been in Sydney (30.4%), Regional Tasmania (29.8%, Canberra (29.0%) and Regional NSW (28.6%).