Prices rose in five of the eight capital cities in 2018, according to the latest figures from CoreLogic. The growth was led by Hobart, where the Home Value Index grew 8.3% last year. Darwin was up 3.7%, Canberra 3.6% and Adelaide and Brisbane were up by about 1%.
The capital city average was a decline of 6.7%, according to these figures, weighed down by a 10% fall in Sydney and a 9% decrease in Melbourne.
It’s important to note that other major research sources disagree with these figures. The latest ABS data records an annual decline in Sydney house prices, but by only 4.9% while SQM Research has Sydney down 5.8%.
In Melbourne, the ABS records an annual decline of 2.1% while SQM Research reports 1.8%, compared to the 9% claimed by CoreLogic. In Perth, the latest ABS figures report no change in House Price Index, SQM Research reports an annual decline of 0.9% while reiwa.com reported that the Perth median house price rose slightly in both October and November and remained unchanged in December. This compares with CoreLogic’s claim of a 4.3% annual decline in Perth.