Across the country, Hobart continued to steam ahead, recording double digit annual growth of 19.3 per cent over the year to $478,491. Despite its solid performing property market, the Tasmanian capital is still Australia’s most affordable city.
Powell says Perth’s property market is showing early signs of improved conditions, although this is still concentrated at the upper-end of the market for both houses and units.
Perth’s house prices fell 2.4 per cent over the September quarter and 2.2 per cent over the year to $544,609.
Canberra house prices grew over the year by four per cent to $740,215 and remained flat for the quarter.
While Adelaide also increased over the year by 3.8 per cent to $535,527, but dropped slightly for the quarter.