Sydney housing prices, up 6.2% in the December quarter, and 22.4% in 2002 (according to the AFR: "the biggest jump since 1989").
Melbourne rose 3% in Q4, and 12.5% in CY02.
Canberra rose 5.9% in Q4, and 18% YoY.
Brisbane rose 5.9% in the December quarter and 25.3% for the year.
In Adelaide, the rates of increase were 5.2% and 21.1% for the year, "the fastest on record for that city", according to the AFR.
Perth rose 11.6% for the year, and 2.5% for the quarter.
Darwin fell 0.4% in the quarter, but rose 4.6% for the year.
Hobart rose 9% for the year and 1.3% for the quarter.
Average house prices in capital cities during the December quarter rose 4.8%, for an 18.4% increase during 2002.
Quoting CommSec's Craig James, the AFR reported "that the market is coming off the boil....'(t)he days of stellar price increases are largely behind us and we expect house prices will grow [in] the 5 to 10 per cent region over 2003,' said CommSec senior analyst Craig James".
According to the AFR: "'With forward indicators of the housing market indicating . . . a slowing in activity later in the year, we think a period of unchanged or even falling house prices could be a downside risk to consumer expenditure,' said Credit Suisse First Boston economist Sally Auld."
