The latest price data from Domain shows strong uplift in house prices right across Australia. Every capital city had growth in their median house prices in the September Quarter – except Melbourne where there was no change.
In the September Quarter, house prices grew by 2.8% or more in four of the capital cities: Adelaide, Hobart, Darwin and Canberra. Hobart rose 6.9% and Darwin by 6.6%.
In annual terms, all capital cities have house prices higher than a year ago. The national average is a rise of about 5% but individual cities have done much better: Hobart has risen 16% and Canberra is up 10%. Sydney, Adelaide and Darwin have all risen 7%.
This reflects the month-by-month data from CoreLogic since the start of the pandemic. Canberra has produced price growth in each of the past seven months and Adelaide has had growth in six of the seven months. Perth, Brisbane and Darwin recorded some down months, but bounced back in August and September.
Most regional markets have had sustained growth throughout the pandemic period, with Regional Tasmania up in every one of the past seven months, while Queensland and NSW delivered uplift in six of the seven. This strong showing by Regional Australia is seen also in the Domain figures just published. Despite the overall positive performance in the capital cities in the September Quarter, the capitals were out performed by the regional markets.