Australian home prices jump record 6.7% in Q2

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New properties line a avenue within the Sydney suburb of Moorebank in Australia, Could 26, 2017. Image taken Could 26, 2017. REUTERS/Jason Reed

SYDNEY, Sept 14 (Reuters) – Costs for Australian residential properties within the main cities climbed a file 6.7% within the June quarter versus the earlier quarter amid super-low borrowing prices and powerful demand for work-at-home property.

Knowledge out on Tuesday from the Australian Bureau of Statistics confirmed features throughout the nation, led by an 8.2% bounce in Canberra and an 8.1% rise in Sydney, whereas Melbourne grew 6.1%.

Costs had been up a steep 16.8% on the identical quarter of final yr. The overall worth of Australia’s 10.7 million residential dwellings rose by a file A$596.4 billion ($439.37 billion) within the June quarter, to face at A$8.9 trillion.

Reporting by Wayne Cole; Modifying by Christopher Cushing


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