Australia House Prices Rise 2.0% In Q2

House prices in Australia were up 2.0 percent on quarter in the second quarter of 2016, the Australian Bureau of Statistics said on Tuesday.

That missed forecasts for 3.0 percent following the 0.2 percent decline in the previous three months.

By region, capital city residential property price indexes rose in Sydney (+2.8 percent), Melbourne (+2.7 percent), Brisbane (+1.1 percent), Canberra (+2.2 percent), Adelaide (+0.8 percent) and Hobart (+0.7 percent) and fell in Perth (-1.2 percent) and Darwin (-2.4 percent).

On a yearly basis, house prices advanced 4.1 percent - also missing estimates for 5.2 percent and down from 6.8 percent in the three months prior.

Annually, residential property prices rose in Melbourne (+8.2 percent), Canberra (+6.0 percent), Hobart (+4.9 percent), Brisbane (+4.3 percent), Sydney (+3.6 percent) and Adelaide (+3.5 percent) and fell in Darwin (-6.5 percent) and Perth (-4.8 percent).

News are provided by InstaForex