Australian capitals, except Sydney and Melbourne, are now seeing house price increases, reflecting a pickup in sentiment in the housing market, according to CoreLogic's latest market update.
Darwin recorded the highest monthly growth of all capital in September, at 1.6%, followed by Adelaide (0.8%) and Brisbane (0.4%).
However, national house prices were still in the red, down 0.1%. This decline was due to the persistent decline in home values ??in Sydney and Melbourne.
Melbourne and Sydney represent around 40% of Australia's housing stock in number and 55% in value. The decline in these two cities pushed the national figure towards a fifth consecutive month of decline.
"By far the weakest result among the capital cities, Melbourne home values ??fell 0.9% in September. Since peaking in March, Melbourne values ??have fallen 5.5%. restrictions having started to be lifted and private home inspections allowed again, we expect to see an increase in activity in October, "said Tim Lawless, research manager at CoreLogic.
The table below shows the variations in housing prices in capital cities:
Every month, regional markets outperformed financial markets. On a monthly basis, regional markets posted 0.4% growth, better than the 0.2% decline recorded by the capital cities.
On an annual basis, however, prices in capital cities were 4.9% higher than last year. This figure was slightly higher than the annual gain of 4.3% in regional markets.
Lawless said the resilience of regional values ??could be due to regional markets not seeing substantial gains prior to COVID-19. This meant that the regional markets did not have high bases to fall from.
In addition, there appears to be a shift in demand from cities to large regional centers, particularly those adjacent to major capitals where residents can return to cities if necessary.
"Remote working arrangements are undoubtedly a factor in supporting demand in these markets, but lifestyle possibilities and the desire for lower density housing also play a role," he said. -he declares.
Top suburbs:
Murdoch
,
coburg north
,
Windale
,
miller
,
new city
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