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Vivienne Kelly
House prices rose modestly in the September 2012 quarter, according to new data from the ABS. Index of established house prices.
According to the Index of established house prices the weighted average of Australia's eight capital cities rose 0.3% in the September quarter 2012.
"This is the fifth consecutive quarter when the index has remained more or less steady, although the current level is 4.1 per cent below the peak achieved in mid-2010," HIA economist Geordan Murray said.
"Lower interest rates, a relatively stable labour market, steadily rising household incomes, and population growth continue to provide a stabilising influence on house prices.
"The economic reality must certainly be a blow to the headline-chasing doomsayers who can't help but forecast an imminent collapse in Australian house prices."
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