Australia 3Q House Prices Rise 4.2% Vs 2Q

SYDNEY -- The weighted average price of established houses in Australian capital cities rose 4.2% in the third quarter of 2009 from the second quarter, the Australian Bureau of Statistics said Monday.

Economists surveyed had forecast a rise of 2.75% in the third quarter from the second.

The bureau's house price index also showed the weighted average price of established houses in Australia's eight capital cities was up 6.2% from the year earlier quarter of 2008.

The house price index for Sydney rose 4.3% in the third quarter from the second, and rose 5.9% from a year earlier.

Sydney city had the largest quarterly increase.