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Record property prices in multiple Australian cities with Sydney up 7.5% in past year

Record property prices in multiple Australian cities with Sydney up 7.5% in past year

Economists say limited sales volumes and rising populations have more than made up for the dampening effect of higher interest ratesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s property prices have soared to record levels in several capital cities as limited sales volumes and rising populations more than made up for the dampening effect of higher interest rates, two data groups say.The new figures show significant growth in Brisbane, Adelaide, and in Perth, where five areas have recorded annual gains of more than 15%, while prices in Sydney are 7.51% higher than a year ago.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

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