Evidence of real estate revival in many of the previously struggling city markets continues to mount.
The CoreLogic figures published earlier in April showed significant improvement in a number of the capital cities of Australia, led by a big increase in Sydney house prices.
The latest figures from SQM Research, published on April 18, provide further evidence of the return to price growth in cities that were previously lagging behind better performers like Perth and Adelaide.
The SQM figures for the past month show a 1.4% rise in house prices, as the average result across the eight capital cities.
Sydney house prices jumped 2.7%, according to the SQM Research index, while Melbourne rose 1.4% and Canberra increased 1.0%.
Perth and Adelaide also continued to grow their house prices in the past month.
Many of the capital city unit markets are also doing well, with price rises in the past month in Brisbane, Perth, Adelaide, Darwin and Hobart.
The national average was a 0.4% month-to-month rise in apartment prices.
In annual terms, house prices nationally have risen 3.7% in the past 12 months – with six of the eight state and territory capital cities lifting their house prices in the year to April, headed by a 12% increase in Adelaide and an 11% rise in Perth.
Keep these figures in mind next time you read or hear in mainstream media that prices are falling across Australia – and you will see that happening, because journalists are often the last people to find out what’s going on in property markets across Australia.
