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Australian property prices rise 6.8 pct in 2014: official data

Xinhua, February 10, 2015 Adjust font size:

Australian property prices on average rose 6.8 percent over 2014, official data released on Tuesday revealed.

The Australian Bureau of Statistics (ABS) figures showed a 1.9 percent rise in the last quarter of 2014.

Sydney was the highest rising market, with the official figures pointing to a 12.2 percent annual gain.

Brisbane ranked as the second highest gain rising 5.3 percent, while Melbourne was next with a 4.5 percent rise.

All the other capitals grew at 2.5 percent or less, with home prices below inflation.

The ABS estimates the total value of Australia's 9.45 million residential dwellings at 5.4 trillion Australian dollars (4.23 trillion U.S. dollars), with an average price of 571,500 Australian dollars (447,600 U.S. dollars).

The official figures show attached dwellings, such as apartments, did not rise as fast as houses for capital gains in the December quarter. Endi