Sydney the exception from hot property market
House prices in capital cities increased by 3.1 per cent over the June 2006 quarter and by 6.4 per cent in the year to June 2006. This is the fastest rate of growth in house prices since 2003. Over the last year, prices increased by 35 per cent in Perth, by 19 per cent in Darwin, by 8 per cent in Hobart, by 7 per cent in each of Adelaide and Canberra and by 6 per cent in Melbourne. Prices in Sydney fell by half a per cent over the last year, though Sydney house prices showed growth in the most recent quarter.