- Home
- Home Loans
- News
- Canberra takes top spot in property rankings
Canberra takes top spot in property rankings
The national capital has established itself as Australia’s fastest growing real estate market, based on new quarterly data.
CoreLogic has reported that Canberra’s median price reached $614,000 at the end of July – a 4.9 per cent increase on April.
That put Canberra ahead of both Melbourne (4.1 per cent) and Sydney (2.2 per cent) in terms of price growth.
Darwin, Hobart, Brisbane and Perth all went backwards over the quarter, while Adelaide barely moved ahead.
| Region | Median price | Monthly change | Quarterly change | Annual change |
|---|---|---|---|---|
| Sydney | $856,000 | 1.4% | 2.2% | 12.4% |
| Melbourne | $655,000 | 3.1% | 4.1% | 15.9% |
| Brisbane | $490,000 | -0.6% | -0.7% | 2.2% |
| Adelaide | $434,000 | 1.1% | 0.1% | 2.1% |
| Perth | $475,000 | -1.3% | -0.3% | -2.1% |
| Hobart | $338,000 | 0.9% | -1.4% | 6.5% |
| Darwin | $485,000 | -1.2% | -6.8% | -2.1% |
| Canberra | $614,000 | 2.4% | 4.9% | 12.9% |
| All capitals | $625,000 | 1.5% | 2.2% | 10.5% |
| Rest of country | $382,500 | 0.2% | 0.0% | 5.4% |
Annual results paint a different picture
However, the picture looks different when the capital cities are examined over a one-year timeframe.
There are now four distinct categories. Leading the way are three boom markets – Melbourne, Sydney and Canberra.
They are followed by Hobart, which is performing strongly.
Brisbane and Adelaide are moving roughly in line with inflation, which is currently at 1.9 per cent.
Perth and Hobart, which have been in a slump for several years, continue to go backwards.
Disclaimer
This article is over two years old, last updated on August 2, 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.
