The smaller capital cities and key regional areas are leading the strong price growth that continues to sweep across Australia, in defiance of claims by economists that the boom is over.
The 1 February report on prices from CoreLogic shows that eight of the nation’s 15 major market jurisdictions recorded house price growth of 1.8% or more during January (which, annualised, means a growth rate above 20%).
The out-performers in January were led by Brisbane, which rose 2.5%, followed closely by Adelaide and Regional South Australia on 2.3%. Regional Queensland grew 2.2% and Regional Tasmania 2.0%, while Canberra, Regional NSW and Regional NT all rose 1.8% or 1.9% in January.
The under-achievers were Sydney (0.8%), Melbourne (0.5%) and Perth (0.7%).
In annual terms Brisbane leads, with its median price up 32% in the year to the end of January. Regional NSW is up 32%, while Regional Tasmania and Sydney have both risen by a little under 30%. Adelaide and Canberra have risen 28%, with Hobart and Regional Queensland up 26%.
