Brisbane and Adelaide led Australia’s capital cities on housing value growth over the past month, up 2.3% and 2.2% respectively.
The combined capital cities of Sydney, Melbourne, Brisbane, Adelaide and Perth recorded home value growth of 0.7% for the month to 9 January 2022, according to CoreLogic.
Sydney and Perth recorded 0.5% growth, while Melbourne edged 0.1% higher during the period.
Capital city home value 12-month change
“Housing market activity is typically very quiet through late December through to late January, however we are seeing some data flowing through that gives us an early view on activity,” said CoreLogic Research Director Tim Lawless.
“Based on the early readings so far, housing values are up across each of the capital cities over the past week, however similar to the monthly trend, Brisbane and Adelaide standout with the strongest conditions.”
The number of new listings across the five capital cities were 6.5% higher than a year ago, however total listings were down 10.8%.
“The trend in new listings over the past four weeks is generally higher than a year ago across most markets, apart from Melbourne, Adelaide and Hobart where the four-week trend in new listings is down compared with the same period a year ago,” said Lawless.
“Brisbane stands out with the largest jump in new listings relative to last year, with a 43.8% jump in freshly advertised stock, suggesting homeowners are taking advantage of the strong selling conditions across southeast Queensland.”
Lawless said overall stock levels remained almost 29% below the five-year average across Brisbane, reflecting an ongoing shortage of available supply despite the surge in new listings.
“As market activity ramps up through the month we will get a better indication for how the housing trends are shaping up for the new year,” said Lawless.