The rise of the residential property prices in Australia was recorded as 5.0 per cent in the year to December quarter 2017, according to the Australian Bureau of Statistics (ABS). 

This was significantly less than the growth rate of 8.3 per cent in September and 10.2 per cent in June quarters 2017. 
“The results are in line with market indicators like falling auction clearance rates, and point to a continued moderation in annual property price growth across a number of Australia’s capital cities,” Chief Economist for the ABS, Bruce Hockman said.  

Sydney also experienced slower growth in the December quarter 2017 with a 3.8 per cent growth rate. This was a significant decrease compared to the 9.4 per cent in the September quarter 2017. 
Mr Hockman said that this slower growth can be explained by “tighter regulatory conditions” and “slowdown in investor credit growth”. 

Comparatively, Melbourne, Canberra, Perth, Brisbane, Adelaide, and Hobart experienced rise in the Residential Property Price Index (RPPI). Melbourne’s RPPI increased by 2.6 per cent, Canberra by 1.78 per cent, Brisbane by 0.9 per cent, Adelaide by 0.6 per cent, and Hobart by 3.9 per cent. 

Hobart saw the biggest annual residential property price rise with a total of 13.1 per cent. 

The weighted average of the eight capital cities recorded a rise of 1.0 per cent for residential properties in the last quarter, leading to a total of 5.0 per cent rise through the year.  
This made Australia’s total value of residential dwellings as $6,869,006.7m, and the mean price of a residential dwelling as $686,700.  

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