The latest median property prices in Australia’s major cities
2023-06-02
Propertyupdate.com.au June 1 2023
After falling -9.1% between May 2022 and February 2023, Australian housing values posted a third consecutive monthly rise according to CoreLogic’s national Home Value Index (HVI) which has recorded a third consecutive monthly rise, with the pace of growth accelerating sharply to 1.2% in May.
In further evidence that a positive growth trend has emerged, the four largest capital cities all recorded a rise in housing values over the rolling quarter.
Change in dwelling values around Australia:
Source: CoreLogic June 2023
• The median dwelling price for Australia now sits at $715,092
• The median dwelling price for our combined capital cities now sits at $779,155
• The median dwelling price for our combined regional towns sits at $583,173
Current Australian house price trends
Of course, there is not one property market around Australia as the following chart clearly shows.
Last year property price declines had been led by the top end, but this year, the top 25% of the market, particularly in Sydney, have led the increase in prices.
After falling -9.1% between May 2022 and February 2023, Australian housing values posted a third consecutive monthly rise according to CoreLogic’s national Home Value Index (HVI) which has recorded a third consecutive monthly rise, with the pace of growth accelerating sharply to 1.2% in May.
In further evidence that a positive growth trend has emerged, the four largest capital cities all recorded a rise in housing values over the rolling quarter.
Change in dwelling values around Australia:
Source: CoreLogic June 2023
• The median dwelling price for Australia now sits at $715,092
• The median dwelling price for our combined capital cities now sits at $779,155
• The median dwelling price for our combined regional towns sits at $583,173
Current Australian house price trends
Of course, there is not one property market around Australia as the following chart clearly shows.
Last year property price declines had been led by the top end, but this year, the top 25% of the market, particularly in Sydney, have led the increase in prices.
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