Record property prices in multiple Australian cities with Sydney up 7.5% in past year
by Peter Hannam Economics correspondent from World news | The Guardian on (#6G0HJ)
Economists say limited sales volumes and rising populations have more than made up for the dampening effect of higher interest rates
Australia's property prices have soared to record levels in several capital cities as limited sales volumes and rising populations more than made up for the dampening effect of higher interest rates, two data groups say.
The new figures show significant growth in Brisbane, Adelaide, and in Perth, where five areas have recorded annual gains of more than 15%, while prices in Sydney are 7.51% higher than a year ago.
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