Australian Home Values See Mixed Results in May: Perth Leads Growth

The latest data from the national Home Value Index (HVI) indicates a continued upward trajectory for Australian home values in May, with a notable rise of 0.8%. Mid-sized capitals like Perth emerged as frontrunners, boasting significant growth rates of 20%, followed closely by Adelaide at 18% and Brisbane at 14%. However, the picture was not uniform across the country, with Sydney witnessing a slight decline of -0.5%, while Hobart and Darwin also experienced minor falls in home values.

Brisbane notably surpassed Canberra to become the second-most expensive capital city in May, underlining the city’s robust performance in the housing market. The median dwelling price for Australia’s combined capital cities stood at $864,780, while combined regional areas recorded a median price of $626,888.

Over the past year, Melbourne, Brisbane, Adelaide, Perth, and Canberra have all seen significant growth in dwelling values, further highlighting the diverse trends within Australia’s property landscape. From varying growth rates to nuanced price movements, the property market in Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin, and Canberra each exhibits its unique dynamics and challenges, reflecting the complex nature of the real estate sector nationwide.