The Australian property market has continued its stellar run, with the majority of the nation’s capital cities recording moderate dwelling value growth.
Perth is the only capital city to record a reduction in property price growth, with the median sale price falling 2.8% across all dwelling types over the last 12 months.
In regional Western Australia, the story was much the same, with the median sale price falling 4.0% over the last 12 months.
But while property prices have stumbled slightly in Western Australia, the other states have recorded moderate to strong growth.
Across the capital cities, Sydney continues to be the standout performer, with the median sale price soaring 13.8% higher across all dwelling types over the last 12 months.
While the rest of News South Wales failed to perform as strongly as its capital city, prices are still up 6.5% across the combined regional areas.
Just like Sydney, Melbourne has continued to perform well over the last year, with prices gliding 6.4% higher.
Similarly, Brisbane, Adelaide, Hobart, Darwin and the ACT all recorded growth in property values. But while prices continue to grow, it would seem the rate of growth is starting to slow.
Source: Tim Lawless, CoreLogic RP Data