Housing prices rose strongly in January, but the rise was uneven in a “two-tiered market.
The average rise across the nation’s’s capital cities was 1.3 per cent, according a CoreLogic RP Data.
The result, flagged by the property market analysis firm last week, was included in more detailed figures released on Monday. Prices were highest in Sydney, with a median home value of $723,000, and lowest in Hobart, at $341,000.
Sydney also maintained its place at the top of the list of annual price rises, with a gain of 13.0 per cent. Canberra was at the bottom of the list, with annual price falls averaging 0.3 per cent.
Annual growth came in at 8.0 per cent, down from a peak of 11.5 per cent early in 2014.
“This slower rate of appreciation should provide some comfort to regulators that housing demand is starting to taper, despite the historically low interest rate environment,” CoreLogic RP Data Head of Research Tim Lawless said.
MEDIAN HOUSING PRICES AND CHANGES
- SYDNEY: $723,000. Monthly +1.4 pct. Annual +13.0 pct
- MELBOURNE: $561,000. Monthly +2.7 pct. Annual +7.0 pct
- BRISBANE: $458,000. Monthly +0.6 pct. Annual +4.6 pct
- ADELAIDE: $410,000. Monthly -1.2 pct. Annual +3.1 pct
- PERTH: $525,000. Monthly -0.6 pct. Annual +2.6 pct
- HOBART: $341,000. Monthly +1.6 pct. Annual +3.0 pct
- DARWIN: $525,000. Monthly -1.3 pct. Annual +1.4 pct
- CANBERRA: $523,000. Monthly +0.9 pct. Annual -0.3 pct
- COMBINED CAPITALS: $555,000. Monthly +1.3 pct. Annual +8.0 pct
- REST OF STATE: $355,000. Monthly -0.1 pct. Annual +2.1 pct