Highest annual house price increase in 20 years - REIA

Australian housing prices have increased at a whopping rate of 23.4% over the past year, the highest growth in 20 years, the latest Real Estate Institute of Australia’s (REIA) Real Estate Market Facts has found.

REIA President, Adrian Kelly said this is the first time since June 2002 that the annual increase has been higher than 20.0%.

He said that over the September quarter, the weighted average capital city median price increased by 4.5% for …