FED:House prices rise 18 per cent annually

AAP General News (Australia)
08-04-2010
FED:House prices rise 18 per cent annually

CANBERRA, Aug 4 AAP - House prices in Australia's capital cities grew at a solid pace
of more than 18 per cent in the year to June, new data released on Wednesday shows.

Australian also posted its largest-ever monthly trade surplus in June, breaching the
$3 billion-mark for the first as exports surged by a further seven per cent.

The Australian Bureau of Statistics house price index rose 3.1 per cent in the three
months to June, much in line with economists' expectations.

This took the annual rate to 18.4 per cent, only slightly below the 19.7 per cent recorded
in the year to March.

Prices rose in all capital cities during the quarter, led by a 4.9 per cent increase
Sydney and a 3.6 per cent rise in Melbourne.

The bureau also said the monthly trade balance of goods and services ballooned to a
seasonally-adjusted $3.54 billion surplus in June, almost doubling from the revised $1.81
billion posted in May.

The boost to exports came from 13 per cent increase in non-rural goods and a six per
cent rise in rural goods.

Imports were flat in June.

AAP cb/rl/dep

KEYWORD: ECONOMY DATA

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