RTTNews | Dec 6, 2021 07:50PM EST

19:50 Monday, December 6, 2021 (RTTNews.com) - House prices in Australia were up a seasonally adjusted 5.0 percent on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Tuesday - slowing from 6.7 percent in the previous three months.

On a yearly basis, house prices jumped 21.7 percent, up from 16.8 percent in the second quarter.

The total value of residential dwellings in Australia rose A$487.0 billion to A$9,259.2 billion this quarter, and the mean price of residential dwellings rose A$42,000 to A$863,700.

The number of residential dwellings was 10.720 million.

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