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Capital gains surge in unlikely place

30 June 2015 Staff Reporter
Capital gains surge in unlikely place

Hobart house prices are approaching Melbourne levels and are leaving Brisbane growth rates far in their wake.

Hobart’s house price reached $384,000 at the end of May after growing 6.3 per cent over the year, according to new statistics from Onthehouse Data.

However, the city’s unit market grew at only a third of the pace, with the median climbing 2.0 per cent to $267,000.

Sydney remains Australia’s stand-out market, with house prices growing 16.7 per cent to $961,000 and unit prices growing 13.1 per cent to $636,000.

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The Melbourne market also remains strong, with the median house price up 8.2 per cent to $679,000 and the median unit price up 3.4 per cent to $474,000.

Brisbane is the only other capital city where both sectors are growing, with house prices increasing 3.8 per cent to $485,000 and unit prices increasing 3.3 per cent to $377,000.

The ACT’s median house price rose 3.1 per cent to $548,000, however the median unit price fell 2.1 per cent to $401,000.

Adelaide house prices grew 2.6 per cent to $423,000, while unit prices dropped 1.3 per cent to $311,000.

Perth was largely flat, with house prices up 0.5 per cent to $529,000 and unit prices down 0.2 per cent to $458,000.

Darwin experienced declines in both sectors as house prices fell 3.7 per cent to $554,000 and unit prices fell 3.4 per cent to $417,000.

[Related: Property prices forecast to fall in seven capital cities]

Capital gains surge in unlikely place
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