Home Prices in Three Cities Are Outpacing Their Peers

Published on June 14, 2024

Home prices in Perth, Brisbane, and Adelaide are growing much faster than in cities such as Melbourne and Hobart, and the latest data indicates those trends could stick around for some time yet. Home values nationally have risen by more than 35 percent since the pandemic kicked off in 2020 but growth has not been spread evenly, according to real estate data company CoreLogic. Price growth across hotspots Perth, Brisbane, and Adelaide has vastly outpaced gains posted in other urban centres, including Hobart, Melbourne, Canberra, Darwin, and Sydney.  At one end of the spectrum, Perth has posted a 62.6 percent increase in property values in that time, compared to an 11.2 percent bump in Melbourne. ...

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