Capital city house prices jump 2.8 per cent
Residential real estate prices around the nation continue to climb, with recent figures revealing a 2.8 per cent increase since the start of the year.
The RP Data-Rismark Home Value Index, released yesterday (April 2), also showed capital city dwelling values increased 1.3 per cent in March, while a 4.7 per cent gain was recorded since May last year.
Perth enjoyed the highest level of growth last month, with home values increasing 3.4 per cent, followed by Hobart with 2.5 per cent and Darwin with 2.4 per cent.
Sydney experienced a 1.5 per cent surge in property prices, while one per cent growth was recorded in Brisbane, 0.8 per cent in Melbourne and 0.4 per cent in Canberra.
"The March 2013 result is one of the strongest we've seen over the three years since March 2010," Rismark International chief executive officer Ben Skilbeck commented.
"Further, it was the strongest quarterly growth seen since the three-month period ending May 2010."
Hobart was the strongest performer over the quarter, with a 6.1 per cent lift in property prices, however, year on year this translated to a 1.2 per cent drop.