Prices Grow In Cities And Regions

House prices are rising in both the major cities and
the regional areas, according to the latest figures
from CoreLogic. All city and regional markets across
Australia, except Regional South Australia, recorded
house price growth in January. This includes Perth
and Darwin which have endured a downturn in recent
years. The markets to rise the most in January
were Melbourne (1.4%), Sydney (1.5%) and Regional
Tasmania (1.3%). Hobart and Regional Western
Australia both rose around 1%.

There were similar results in the quarter-to-quarter
figures, demonstrating some consistency in the
turnaround. The biggest quarterly growth was in Sydney
and Melbourne – but Hobart, Brisbane, Canberra,
Regional Victoria, Regional Queensland and Regional
Tasmania all rose by between 2% and 4% in the past
three months. Unit prices also increased across the
board with the exception of Darwin and Brisbane. The
markets with the biggest uplift in unit prices were all
regional – South Australia, Tasmania and Victoria –
while the highest apartment price growth among the
capital cities was achieved by Hobart.