Property Prices Continue To Drift Higher

Home values have continued to recover over the past month, with prices in Australia’s larger five capital cities up 0.9% in the past 30 days.

Growth was evenly distributed across most of the major capital city market, with Brisbane values – which rose 1.2% – the strongest in the country.

Sydney also saw values rise by 1.1%, while Adelaide (1%) and Perth (0.9%) also saw solid increases.

Melbourne was the weakest market among the five largest cities, with values up 0.4% over the past month.

Values across the five largest cities are now up 3.7% over the course of 2023.