New research indicates that three capital cities recorded price increases in the December 2018 Quarter, while key regional centres also recorded price growth.

The Real Estate Institute of Australia’s Real Estate Market Facts report says the national median house price declined to $733,438 for the quarter, which was due to falls in the two biggest cities, – but three cities bucked the downward trend, with prices up in Adelaide, Hobart and Perth.

REIA president Adrian Kelly says investors looking for affordable property may want to look to Adelaide, which had the lowest median house price for the quarter at $475,000 and Darwin, which had the lowest median “other dwellings” price at $350,000.

The report noted that while prices had declined in Melbourne, regional areas like Geelong, Bendigo, and Ballarat recorded strong price growth.

There is a similar trend in NSW, where Sydney prices generally are down but most centres in regional NSW have recorded annual price rises.