Canberra takes top spot in property rankings

article header

The national capital has established itself as Australia’s fastest growing real estate market, based on new quarterly data.

CoreLogic has reported that Canberra’s median price reached $614,000 at the end of July – a 4.9 per cent increase on April.

That put Canberra ahead of both Melbourne (4.1 per cent) and Sydney (2.2 per cent) in terms of price growth.

Darwin, Hobart, Brisbane and Perth all went backwards over the quarter, while Adelaide barely moved ahead.

Region Median price Monthly change Quarterly change Annual change
Sydney $856,000 1.4% 2.2% 12.4%
Melbourne $655,000 3.1% 4.1% 15.9%
Brisbane $490,000 -0.6% -0.7% 2.2%
Adelaide $434,000 1.1% 0.1% 2.1%
Perth $475,000 -1.3% -0.3% -2.1%
Hobart $338,000 0.9% -1.4% 6.5%
Darwin $485,000 -1.2% -6.8% -2.1%
Canberra $614,000 2.4% 4.9% 12.9%
All capitals $625,000 1.5% 2.2% 10.5%
Rest of country $382,500 0.2% 0.0% 5.4%

Annual results paint a different picture

However, the picture looks different when the capital cities are examined over a one-year timeframe.

There are now four distinct categories. Leading the way are three boom markets – Melbourne, Sydney and Canberra.

They are followed by Hobart, which is performing strongly.

Brisbane and Adelaide are moving roughly in line with inflation, which is currently at 1.9 per cent.

Perth and Hobart, which have been in a slump for several years, continue to go backwards.


^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on