House prices up 0.8pc for Sept quarter

Prices of homes climbed 0.8 per cent for the September quarter, with all capital cities except for Melbourne notching gains.

Sydney saw the biggest rise of one per cent, followed by Brisbane at 1.5 per cent, according to a weighted index used in Australian Bureau of Statistics data released on Tuesday.

Melbourne prices fell 0.3 per cent as the city was at the time still under restrictions to slow the spread of the coronavirus.

After Sydney and Brisbane, Perth had the next highest gains of 1.4 per cent on the weighted index, then Adelaide at 1.6 per cent.

Canberra was up 0.9 per cent, Hobart rose 1.2 per cent and Darwin increased by 0.8 per cent.

ABS prices statistics head Andrew Tomadini said the Brisbane and Sydney results were in line with expectations.

Lending to homebuyers, auction clearance rates and sales all rose during the quarter, the ABS said.

Residential property prices have climbed by 4.5 per cent for the 12 months to the September quarter.

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