House Prices in Australia Rise at Nearly Double the Rate of the US

Australian house prices have risen by 10 percent in a year on average across all capital cities, CoreLogic data shows. In contrast, data released on Jan. 30 reveal house prices in the United States have jumped half this amount, by 5.1 percent in a year. In Australia, Perth properties have soared the most of any capital city in the last year, while Hobart and Darwin prices fell slightly. Melbourne prices also only rose modestly, compared to other major cities. Sydney home values have surged 11.4 percent, Brisbane by 14.8 percent, and Perth by a mammoth 16.7 percent in a year, the data (pdf) shows. Adelaide prices have soared 10.3 percent, while Melbourne properties have moved 3.9 percent in a year, as of Jan. 31, 2024....