Data from the Australian Bureau of Statistics (ABS) show the prices for houses in Australia has surged in the December quarter. The weighted average for the eight capital cities increased 5.2% for the quarter, bringing the annual gain to 13.6%, once again outstripping wage growth and inflation.
ยป 6416.0 – House Price Indexes: Eight Capital Cities, Dec 2009 – The Australian Bureau of Statistics, 2nd February 2010.
Here’s a contrarian indicator for you.
http://www.smh.com.au/national/arise-marrickville-the-new-paddington-20100205-niqx.html?autostart=1
Apparently property prices in Marrickville (i.e. right underneath the Sydney airport runway approaches) are going to double in the next 6 years. Are they really saying the average house price is going to go from 648 000 to $1.3 million?
Forgot to ad the suburb summary.
http://www.homepriceguide.com.au/snapshot/price/index.cfm?action=view&suburbORpostcode=2204&st_locale=Marrickville&source=apm