Good news for property investors as house prices show moderate rise

Official data released on Tuesday showed a rise of 0.3 per cent in house prices in Australian capital cities in the September quarter

St George economist Janu Chan said the housing data provided some tentative optimism about the sector.

“Today’s data provides further evidence of stabilisation in the housing market, although it remains too soon to conclude a clear upswing in housing is underway Australia-wide,” she said.

“The outlook, however, is promising as the impact of lower borrowing costs continue to take effect.”