Residential property prices in capital cities in Australia increased by 2.2% in the first three months of 2017, the fourth quarterly rise in a row, according to the latest figures to be published.

The data from the Australian Bureau of Statistics (ABS) also shows that year on year prices have increased by 10.2% and the growth was led by Sydney and Melbourne.

‘While residential property prices rose in most capital cities this quarter, Sydney and Melbourne continue to drive the national result,’ said ABS programme manager for prices Marcel van Kints.

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