Dwelling values have risen 20.3% in the past 12 months, headed by a 23.1% increase in the Combined Regional markets, according to the latest figures from CoreLogic. House prices rose 22.9% in the year to 1 October, with the regions up 23.4%, and unit prices rose on average 12%, but with a 21.5% uplift in the regions.
Ten of the 15 market jurisdictions across Australia have recorded house price growth above 20%, headed by Sydney (28.9%), Canberra (28.0%), Regional Tasmania (27.8%) and Regional NSW (27.4%). The weakest growth recorded was a 12.8% rise in house prices in Regional Northern Territory. The weakest in the capital cities was an 18.0% annual increase in Melbourne.
In September there was an average rise in house prices of 1.6%, with Regional NSW, Brisbane, Adelaide, Hobart and Sydney all recording 2.0% or 2.1%. In the September Quarter, house prices nationally rose 5.1% while units rose 3.5% nationally, but 5.5% in regional markets, headed by 8% in Regional Tasmania.