Residential property prices in Sydney are growing at five times the rate of most other capital cities in Australia. New figures from the Australian Bureau of Statistics show the price of property in Sydney grew 3.1 per cent in the first quarter of 2015. This was more than five times the change in all other capital cities apart from Canberra and Adelaide, which recorded 1.1 per cent growth and 0.7 per cent growth respectively. Property prices fell 0.2 per cent in Darwin and 0.1 per cent in Perth, but grew 0.6 per cent in Melbourne, 0.5 per cent in Hobart and 0.4 per cent in Brisbane.New ABS figures show the price of property in Sydney grew 3.1 per cent in the first quarter of 2015This was more than five times the change in all other capital cities apart from Canberra and AdelaideThe figures showed Sydney prices grew 13.1 per cent in one year, far more than Melbourne at 4.7 per cent
'There are certain constraints in _ that aren't going away any time soon: population growth, low interest rates, self-managed super funds investing, foreign demand and a lack of supply.'