Dwelling Prices Rising Across Australia

House prices are up in most capital cities and as an average across regional Australia, while the average situation for units is a rise in both the capital cities and also regional Australia.

In most cases the annual price increases are moderate, although individual locations are performing well above the average situation.

But headlines such as "Property prices falling across Australia" are appearing in mainstream media. This results from Sydney’s situation – CoreLogic suggests Sydney houses have dropped 6% in the past year and this has dragged down the average for "combined capitals" (-2.2%).

But Hobart’s house price index is up 14%, while Canberra, Melbourne, Brisbane and Adelaide are all higher than 12 months ago, though only moderately.

Regional Australia is also up, led by Newcastle, Geelong, the Sunshine Coast, Launceston and Ballarat.