Dwelling values have risen in nine of Australia’s 14 major markets in the past 12 months, according to the latest figures from CoreLogic.
The figures show that while prices are down in Sydney and Melbourne, they are higher than a year ago in Hobart, Canberra, Brisbane, Adelaide, regional NSW, regional Victoria, regional Queensland, regional Tasmania and regional South Australia. Hobart continues to lead on price growth, with an annual rise of 10%.
In terms of the house markets, five of the eight state and territory capitals (Brisbane, Adelaide, Hobart, Darwin and Canberra) have price levels higher than last year. In addition, the combined regional index is up over 12 months. This follows the recent release of the official ABS data on prices, which showed that house prices were up in annual terms in five of the eight capital cities. There was a similar outcome in the latest figures from SQM Research.
However, the national average result is down 2.7%, because of the size of the Sydney and Melbourne markets.