Australian House Prices Jump to a New Record High, but Emerging Signs of Market Cooling

A ‘SOLD’ sticker is seen on a sale sign in front of a house in Canberra, Australia, May 18, 2021. Lukas Coch/AAP Image

Australian residential property prices continued to surge, revealing record levels of growth over the three months to June, according to new figures.

The Australian Bureau of Statistics (ABS) revealed on Tuesday that home prices rose 6.7 percent—the strongest quarterly growth figure since ABS began tracking the data in 2003.