Australia House Prices Jump 4.7% On Quarter In Q4

House prices in Australia were up 4.7 percent on quarter in the fourth quarter of 2021, the Australian Bureau of Statistics said on Tuesday.

That exceeded expectations for a gain of 3.9 percent and was down from the 5.0 percent increase in the third quarter.

On a yearly basis, house prices jumped 23.7 percent, up from 21.7 percent.

The total value of residential dwellings in Australia rose A$512.6 billion to A$9,901.6 billion in Q4, and the mean price of residential dwellings rose A$44,000 to A$920,100.