Property prices across the country have continued to rise at a steady pace, according to CoreLogic’s national Home Value Index, which was up 8.9% over the 12 months to the end of March.
This took the median national dwelling value to $765,762 – $63,000 higher than it was at the same time last year.
Of the capital cities, Perth, Brisbane and Adelaide recorded the largest rises, while Hobart, Darwin and Canberra were the most subdued.
“Despite three rate hikes, worsening affordability and the rising cost of living, the increasingly entrenched undersupply in housing stock and above-average demand, thanks to strong net migration, have helped push values higher,” says CoreLogic economist Kaytlin Ezzy.
Of the 4625 suburbs analysed by CoreLogic, 88% rose in value over the year. Brisbane was the standout,…
