House values up in Brisbane, Adelaide, Perth and the ACT, along with several regional areas
A lift in house values in the smallest cities has driven growth across the country, despite stalling values in Sydney andCoreLogic’s national Home Value Index, released on Friday, was up 0.7% in March, driven by stronger conditions in Brisbane,and Melbourne.
Sydney’s growth rate fell from a peak of 9.3% in the three months to May 2021 to 0.3% in the first quarter of this year. “Virtually every capital city and major rest-of-state region has moved through a peak in the trend rate of growth some time last year or earlier this year,” Lawless said. National housing turnover is also easing, with preliminary transaction estimates for the March quarter tracking 14.3% lower than the same period in 2021 but still 12.2% above the previous five-year average.
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