House prices are rising in both the major cities and the regional areas, according to the latest figures from CoreLogic. All city and regional markets across Australia, except Regional South Australia, recorded house price growth in January. This includes Perth and Darwin which have endured a downturn in recent years. The markets to rise the most in January were Melbourne (1.4%), Sydney (1.5%) and Regional Tasmania (1.3%). Hobart and Regional Western Australia both rose around 1%.
There were similar results in the quarter-to-quarter figures, demonstrating some consistency in the turnaround. The biggest quarterly growth was in Sydney and Melbourne – but Hobart, Brisbane, Canberra, Regional Victoria, Regional Queensland and Regional Tasmania all rose by between 2% and 4% in the past three months. Unit prices also increased across the board with the exception of Darwin and Brisbane. The markets with the biggest uplift in unit prices were all regional – South Australia, Tasmania and Victoria – while the highest apartment price growth among the capital cities was achieved by Hobart.