House prices still on the rise

Adam Smith 2 November 2016

house coin stack blueprintsHouse prices have risen across six of Australia’s eight capital cities.

The CoreLogic October Home Value Index has shown capital city home values hitting record highs during the month. Combined capital city dwelling values rose 0.5% in October, falling only in Adelaide and Hobart by 2.4% and 2.1%, respectively.

The result brings house prices 10.6% higher for the year in Sydney, and 9.1% higher in Melbourne. Combined capital city home values rose 7.5% on a year-on-year basis.

CoreLogic research director Tim Lawless said some of the results showed a divergence between the detached house and apartment markets. Sydney detached home values and unit values grew relatively in line, rising by an annual rate of 10.9% and 9.1%, respectively. There was a much more pronounced difference in Melbourne and Brisbane, however. Melbourne house values grew 9.6%, compared to 5.2% for units. Brisbane house values rose 4.7%, while unit values fell 1.4%.

“The weaker performance of unit values across the Brisbane market may be partially attributed to supply concerns, as unit supply levels across key regions of Brisbane’s inner city show the potential for a significantly larger relative increase in existing stock levels when compared with Melbourne and Sydney,” Lawless said.

Latest home loans headlines

Image: Shutterstock

More help from

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question