Home values have been on an upward trend – thanks to Sydney, as it led all capital cities with a 1.8% gain in the 3 months to June, according to the Australian Bureau of Statistics. House price index rose to 10.1%, the third straight month that it has hovered above the 10% mark.
Over the year, Sydney house prices rose by a staggering 15.6% to June, followed by Melbourne with a 9.3% gain. Despite the huge gains, house price data is still at manageable levels, with recent announcements by the Reserve Bank to keep the interest rates at a record low 2.5%
Read more about this on the Australian website.