Price data for August published this week by CoreLogic demonstrates that housing markets remain solid across Australia. The CoreLogic figures for August show that house prices dropped in only two of the eight capital cities. Prices rose in Canberra, Hobart and Darwin, and were unchanged in Brisbane, Adelaide and Perth. House prices also rose during August in the regional areas of New South Wales, Queensland and Tasmania. Sydney and Melbourne were the only capital cities to record decreases in their house prices during the month.
Overall, house prices nationally fell 0.4%, dragged down by the negative results in the two biggest cities. But there was a small increase during August in regional areas. In the year to date, house prices remain about 1% higher than at the start of 2020, helped by a 2.3% increase in regional Australia. House prices remain higher than at the start of the year in Sydney, Brisbane, Adelaide, Canberra, Hobart and Darwin, as well as in the regional areas of NSW, Victoria, Queensland, South Australia and Tasmania. Unit prices are up about 1% nationally in the year to date, with a 2.1% rise in regional Australia.