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Prices Rise Across The Board

Prices Rise Across The Board

New figures reveal every single capital city in Australia recorded property price growth in the past quarter.

The latest data from CoreLogic shows nationally property prices increased by 0.9% in October, a slight increase on September when prices rose by 0.7%.

CoreLogic Research Director, Tim Lawless, says during the three months to the end of October capital city dwelling values rose by 2.3%.

Dwelling values rose in every capital city during the quarter with the strongest performer, Perth, which was up by 4.6%, Adelaide was close behind with a 4.2% increase and then Brisbane which was up 3.8%.

Sydney values increased by 2.5%, Melbourne 1.2%, Canberra, 0.7% and both Hobart and Darwin were up 0.3%.

The results mean three capitals have experienced dwelling values increases of more than 10% during the first 10 months of the year, led by Sydney (10.9%), Perth (10.8%) and Brisbane (10.2%).

The report says regional markets are lagging behind the capital cities with the combined regional values up by 0.7% in October.

“Despite the slower pace of growth, every rest of state region recorded a rise in home values over the month, except Regional Tasmania where values were flat,” Lawless says.

“Similar to the trend in the capitals, Regional Queensland, WA and SA are showing stronger conditions with each of these rest of state regions at record highs in October.”


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