Six of the eight capital cities recorded increases in their house prices in September, headed by a 2% monthly rise in Darwin.
Prices rose also in most regional jurisdictions, led by a 1.2% increase in Regional South Australia. The “combined regionals” index rose 0.5% in September.
Despite six of the eight cities rising, the overall result for the “combined capitals” in September was a 0.2% decrease, with the average dragged down by negative results in Sydney (down 0.2%) and Melbourne (down 0.9%).
Six of the capitals – Sydney, Brisbane, Adelaide, Hobart, Canberra and Darwin – have higher price levels than at the start of 2020, notwithstanding the impacts of the pandemic. The best results have occurred in Darwin (up 6.6%), Canberra (up 4.3%) and Hobart (up 4%).
Most of the state and territory regional markets have also recorded rises in 2020, led by Regional Tasmania (up 7.1%), Regional South Australia (4.6%) and Regional NSW (up 4%).
In annual terms, all capitals have recorded growth in their house price levels except Perth, with Sydney, Hobart and Canberra all rising by at least 7%. But the national leader is Regional Tasmania, where house prices have risen 10.2% in the past 12 months.
The CoreLogic figures show, once again, that housing markets have refused to buckle under the weight of the negative pandemic forces.