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Australian property prices rose 12.5 per cent over the twelve month period ending September 2007.
Adelaide property led the way with the median dwelling price climbing 20.1 per cent to $366,590. Brisbane followed closely with a price growth of 18.9 per cent; Melbourne also recorded a solid increase of 16.6 per cent.
RP Data research director Tim Lawless described Adelaide’s growth as the result of “above average rental yields and strong prospects for capital growth”.
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Broader Sydney prices moved steadily at 7.2 per cent; Canberra experienced a 12.3 per cent rise in average costs.
Darwin recorded a 1.6 per cent rise whereas Perth experienced the nation’s only drop with minus .05 per cent.
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