Australian home prices rise in Sydney & Melbourne South East Queensland next to grow

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Home prices have surged in March which is a sign that the boom in the property market is continuing.

Prices surged by 2.3% last month over Australia's eight capital cities to take the total growth for the first quarter to 3.5% new figures released by RP Data and Rismark today showed.

Sydney’s housing market showed the most substantial increase beyond its previous market high with Melbourne recording the strongest growth of 5.4% in the first three months of this year, and Sydney growing 4.4% for the quarter while Hobart prices strengthened by 4.7%

Brisbane only rose by 1.5% so the door is open there and in that particular region of South East Queensland which is obviously a target market for wise and astute investors who are taking advantage of the areas growth potential.  

Adelaide rose by 1.2% Darwin by 2.8% and Canberra by 2% with Perth bucking the trend, with prices falling by 0.6% since the start of this year.

With many people being priced out of the market in places like Sydney & Melbourne, the obvious move with smart money is South East Queensland with the corridor between Brisbane and the Gold Coast being the best value and strongest in growth.