According to RP Data, house prices in Australia continue to rise. Capital city house prices have risen 5.9% since the beginning of the year and the national index is now 1.8% ahead of the last peak in February 2008. Of all the capital cities, Darwin came top with 10.8%, Melbourne next 8.5%, and Sydney rose 6.6%.
Perhaps the key comment is "while first home buyers did initially furnish the early momentum, upgraders and investors have now taken over the baton". Also interesting is the finding that detached house sales jumped 9.8% in NSW.
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