The weighted average price of established houses in Australian capital cities rose 5.2% in the fourth quarter of 2009 from the third quarter, the Australian Bureau of Statistics has said.

National Australia Bank said the the broader market had expected a rise of 4.2%. Nomura tipped a more modest rise of 2.2%.

The bureau's house price index also showed the weighted average price of established houses in Australia's eight capital cities was up 13.6% from the year earlier quarter of 2008.

The Australian