Australian house prices rose in the three months through September for a second quarter as government grants spurred demand among first-time buyers.

An index measuring the weighted average of prices for established houses in the eight capital cities climbed 4.2 percent from the second quarter, when it advanced by the same amount, the Australian Bureau of Statistics said in Sydney today. The median estimate of 18 economists surveyed by Bloomberg News was for a 3 percent gain.

bloomberg.com