Capital city house prices rose by 9.8% in the 12 months to December 2013. Setting a new record, the median is now $597,556.
The December Quarter had the strongest growth in four years. Sydney’s median price grew by 6% and Melbourne 3.2%. Australian Property Monitors Quarterly Housing Report predicts price growth will moderate over 2014 as economic activity wanes, with Brisbane and Perth being the likely exceptions, driven by strong local economies.