Aussie house prices rising

Photo / Thinsktock
Photo / Thinsktock

Australian home prices continued their rise in the week after the federal election.

The RP Data-Rismark Daily Home Value Index for the five mainland state capitals rose by 0.5 per cent in the week ending last Sunday.

It brought the annual rise in housing prices, which bottomed out in mid-2012, to 5.7 per cent.

Aside from Perth, with a fall of 0.2 per cent, the other four capitals in the index posted rises last week. Sydney led, with a gain of 0.8 per cent for the week and 8.0 per cent for the year.

Adelaide had the weakest annual increase, just 0.1 per cent, while Perth had the biggest annual rise, 8.8 per cent.

The weekly auction clearance rate for the combined capitals was 74.6 per cent, down only marginally from the week before which was the strongest result since late 2010.

- AAP

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