CHART: The White Heat Is Coming Out Of The Property Market In Sydney And Melbourne

Photo: Getty Images

Booming property markets in Sydney and Melbourne appear to be stabilising after months of increases which caused some analysts the worry a bubble was forming, new data show.

House prices have increased 15.5% and 7.2% year-on-year in Sydney and Melbourne respectively, according to ANZ and RP Data.

But, while prices in Sydney did increase slightly in the week ending 22 June, as the chart shows, they are moderating, and prices in Melbourne declined 0.4% over the seven days to be 1.8% lower in the past month.

Here’s a table, from ANZ, with all the data you need.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.