Home prices continue to surge their way out of GFC levels

AUSTRALIAN home prices continued their strong gains in December, leading to the biggest calendar year rise in four years.

AUSTRALIAN home prices continued their strong gains in December, leading to the biggest calendar year rise in four years.

The RP Data-Rismark home value index shows capital city prices rose an average of 9.8 per cent last year, the biggest calendar year rise since 2009 when home values lifted 13.7 per cent.

Regional areas did not experience the same gains, lifting just 1.4 per cent over the year.

The standout performer for capital gains was Sydney, surging an average 14.5 per cent over the year, including a 4.1 per cent rise over the past three months, leaving the median dwelling price at $655,250.

That is nearly $100,000 more than the next most expensive city, Melbourne.

Read more at ABC News Online.