House prices in Sydney have grown at over eight times the average growth rate of all other capital city housing markets in the three months to July 2015.
Recent statistics compiled by OnTheHouse.com.au show that Sydney house prices recorded a quarterly growth rate of 7.58%, compared to the average quarterly growth rate of all other capital cities of 0.92%. Over the twelve months to July, Sydney recorded house price appreciation of 21.17%.
Sydney’s quarterly growth rate was almost 2.5 times ahead of Australia’s second best performing city, Melbourne, where prices increased by 3.10% over the three months to July. This was followed by Brisbane, which recorded quarterly house price appreciation of 2.83%.
Canberra house prices increased by 2.37% over the quarter, while Darwin and Adelaide experienced marginal growth of just 0.71% and 0.42%, respectively.
House prices in Hobart and Perth fell over the quarter, recording price decreases of 0.85% and 2.11% respectively over the three months to July. In the twelve months to July, house prices in Perth contracted 4.34%. However, despite recording depreciation over the quarter to July, house prices in Hobart are still up 3.26% from July 2014.