Most of the state capitals have seen strong price growth recently, according to the latest House Price Index from the Australian Bureau of Statistics. Brisbane, Adelaide and Melbourne all saw rises of 5% or more in the June 2007 quarter. Brisbane, with a rise 6.5%, is the national leader.

Canberra, Sydney and Hobart all had rises in their House Price Index between 2% and 3% for the quarter, but both Perth and Darwin saw declines, confirming again that the resources-led property party is over in Western Australian and the Northern Territory.

Overall, the House Price Index for the nation grew 3.2% for the June quarter and 9.2% for the year ending June 2007. This compares with a rise of 1.4% nationally in the March quarter.

The figures provide further evidence that the buoyancy in the upper end of the market is pulling up the median prices for our major cities.