- Home
- Home Loans
- News
- Hobart outpaces Sydney and Melbourne
Hobart outpaces Sydney and Melbourne
Hobart recorded the fastest house price growth during the 2016-17 financial year, new data from Domain has revealed.
The city’s median house price reached $404,522 during the June quarter – a 15.2 per cent increase on the year before (see table below).
That placed Hobart ahead of both Melbourne (15.1 per cent) and Sydney (12.7 per cent).
Meanwhile, Hobart’s median unit price jumped 7.7 per cent to $310,854.
That ranked it ahead of Melbourne (4.6 per cent) but behind Sydney (10.5 per cent).
Other markets struggling
While Hobart posted strong growth in both sectors, Darwin experienced a mixed bag.
The city’s median house price jumped 12.2 per cent to $666,686. However, its median unit price plummeted 23.5 per cent to $351,880.
The other struggling markets were Perth houses, which fell 3.8 per cent, Brisbane units, which fell 4.9 per cent and Canberra units, which fell 3.7 per cent.
House prices
| Region | Median price | Quarterly change | Annual change |
|---|---|---|---|
| Sydney | $1,178,417 | 1.6% | 12.7% |
| Melbourne | $865,712 | 3.5% | 15.1% |
| Brisbane | $546,043 | -0.1% | 3.1% |
| Perth | $555,788 | -1.8% | -3.8% |
| Adelaide | $524,968 | 0.9% | 6.6% |
| Hobart | $404,522 | 4.3% | 15.2% |
| Canberra | $723,299 | 3.9% | 8.9% |
| Darwin | $666,686 | 6.1% | 12.2% |
| National | $818,416 | 1.7% | 10.1% |
Unit prices
| Region | Median price | Quarterly change | Annual change |
|---|---|---|---|
| Sydney | $757,991 | 3.2% | 10.5% |
| Melbourne | $474,848 | 2.1% | 4.6% |
| Brisbane | $375,269 | -5.5% | -4.9% |
| Perth | $377,823 | 1.1% | 0.0% |
| Adelaide | $312,346 | 0.9% | 2.8% |
| Hobart | $310,854 | 3.8% | 7.7% |
| Canberra | $403,128 | -2.9% | -3.7% |
| Darwin | $351,880 | -13.4% | -23.5% |
| National | $573,064 | 1.7% | 6.4% |
Click here to see how rental conditions have changed throughout Australia.
Disclaimer
This article is over two years old, last updated on July 20, 2017. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
Compare home loans in Australia
Product database updated 15 Nov, 2024
Fact Checked
Share this page
Get updates on the latest financial news and products
By continuing, you agree to the RateCity Privacy Policy, Terms of Use and Disclaimer.
