House prices rise, but pace drops

House price growth slowed in the March quarter, according to the Australian Bureau of Statistics. Prices grew by 3.4 per cent compared with 4.8 per cent in the December quarter. Sydney experienced the largest slowdown with prices growing 3.3 per cent compared with 6.2 per cent in the December quarter. In Melbourne prices grew 1.9 per cent compared with 3 per cent, Canberra 4.2 per cent versus 5.9 per cent, Brisbane 5.1 per cent (5.9 per cent) and Adelaide 5.2 per cent (4.3 per cent). In Darwin prices rose 4.7 per cent in the March quarter, Perth saw 3.9 per cent and Hobart 6.7 per cent.