Key takeaways
Rising home prices remained a feature of most capital city housing markets over the June quarter although there was a clear divergence in results.
The national capital city median house price again increased by 0.2% to $1,137,767 over the June quarter compared to the May quarter, according to the latest data from My Housing Market.
The national quarterly house price has now increased over 16 of the past 17 months and has risen by 8.6% over the year ending June 2024, and is higher by 7.3% over the past two years.
National unit prices also reported generally positive increases over June with the national unit price up by 0.7% to $656,862, and is now 7.1% higher than the June quarter 2023 result.
Rising home prices remained a feature of most capital city housing markets over the June quarter although there was a clear divergence in results.
The national capital city median house price again increased by 0.2% to $1,137,767 over the June quarter compared to the May quarter, according to the latest data from My Housing Market.
The national quarterly house price has now increased over 16 of the past 17 months and has risen by 8.6% over the year ending June 2024, and is higher by 7.3% over the past two years.
National Quarterly Median House Price
Perth was yet again the top capital city performer with prices strongly higher by 2.7% followed by Adelaide up by 2.0%, Brisbane up 1.3% and Canberra up 0.4%.
Sydney prices were steady; however, Melbourne, Darwin and Hobart fell sharply by 1.3%, 1.4% and 2.4% respectively.
House prices in most capitals remain higher over the year ending the June quarter of 2024 with Perth still the top performer up by 26.8% followed by Brisbane up 18.7%, Adelaide higher by 16.9% and Sydney up 6.8%.
Canberra has reported an annual house price increase of 0.8% with Melbourne higher by just 0.2% - however, Hobart and Darwin annual prices were lower by 2.9% and 3.6% respectively.
National unit prices also reported generally positive increases over June with the national unit price up by 0.7% to $656,862, and is now 7.1% higher than the June quarter 2023 result.
Most capital city unit prices were higher over the June quarter, with Adelaide and Perth the top performers each up 1.8% followed by Hobart up 1.6%, Sydney higher by 1.0%, Brisbane up 0.7% and Canberra up 0.5%. Melbourne unit prices however were down up 0.3% with Darwin sharply lower by 3.8%.
Perth, Brisbane and Adelaide continue to record clearly the highest annual unit price growth to June 2024, up by 25.3%, 24.5% and 19.4% respectively.
All other capitals have also recorded annual unit price increases - except Darwin lower by 2.4% and Hobart down 5.8%.
2024.07.01
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