Australia 1Q House Prices Rise 1.1% Vs 4Q Vs Forecast +0.3%
May 5, 2008Australia 1Q House Prices Rise 1.1% Vs 4Q Vs Forecast +0.3%
SYDNEY (Dow Jones)–The weighted average price of established houses in Australian capital cities rose 1.1% in the first quarter from the fourth quarter 2007, the Australia Bureau of Statistics said Monday.
Economists had forecast a rise of 0.3%, according to a survey by Dow Jones Newswires.
The bureau’s house price index also showed the weighted average price of established houses in Australia’s eight capital cities was up 13.8% from the year-earlier quarter of 2007.
The house price index for Sydney fell 1.5% in the first quarter, and rose 7.1% from a year earlier.
Melbourne city had the largest quarterly increase, of 4.1%.
-By Sydney bureau; 61-2-8235-2950; djnews.sydney@dowjones.com
(END) Dow Jones Newswires
May 04, 2008 21:31 ET (01:31 GMT)
