September decline in Australian property value
October 6, 2022
In September Australian property prices have gone down by 1.4%, a slight ease from the 1.6% decline in August.
- Sydney fell by 1.8% with $1,053,131 median value
- Brisbane fell by 1.7% with $746,017 median value
- Canberra fell by 1.6% with $886,990 median value
- Hobart fell by 1.4% with $705,079 median value
- Melbourne fell by 1.1% with $774,531 median value
- Perth fell by 0.4% with $558,879 median value
- Adelaide fell by 0.2% with $649,983 median value
- Darwin remained about the same with a $509,440 median value
Property value is still well above where they were at the onset of COVID in March 2020. After the recent 25.5% growth cycle, combined capitals index are now 5.5% below the recent peak. Regional property recorded a stronger growth of 41.6% during the upswing, and since, values are down just 3.6%.
Source: CoreLogic’s national Home Value Index
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