Australian property values are continuing to rise, although the rate of growth has slowed in the past month.

CoreLogic’s latest Hedonic Index shows that national values are up by 0.3% in October, the 21st month of growth since February 2023. The smaller capital cities continue to drive market growth, with Perth up 1.4% during October, Adelaide up 1.1%, Hobart up 0.8%, and Brisbane up 0.7%.
All other capital cities recorded small declines in dwelling values during the month.

CoreLogic research director, Tim Lawless, says it is the more affordable markets that are performing the best. “A combination of less borrowing capacity and broader affordability challenges, as well as a higher-than-average share of investors and first home buyers in the market, is the most likely explanation for stronger conditions across the lower value cohorts of the market,” he says.
Lawless says slower growth in home values has been accompanied by a rise in advertised stock levels.