Market Update

House prices rise

House prices across capital cities rose in the three months to June, but it is still cheaper for most Australians to buy a home today than it was a year ago.

A national survey of home prices, released on Wednesday, shows the median capital city house price lifted 1.4 per cent in the June quarter, though it remains 3.1 per cent below its level a year ago.

New dwelling commencements rise

Australian builders broke ground on 34,116 new dwellings in the three months to June, a 4.6 per cent rise on the previous quarter.