Darwin and Sydney housing markets end 2012 on a high note

by Lena Woods03 Jan 2013

Darwin and Sydney recorded the largest home value increases over the year to December 31, rising 8.95% and 1.47% respectively, while Melbourne experienced the most significant decrease, falling 2.86%.

According to RP Data Rismark's monthly index of house and apartment prices, home values across the five major capital cities dropped 0.22% in the month to December 31, dragging values down 0.44% lower over the year.

Despite last month's RBA interest rate cut, Sydney's home values fell 1.03% last month.

Darwin's house prices dropped 2.5% in December, while Perth prices rose 0.28%, taking the yearly increase to 0.75%. Melbourne prices rose by 0.45% in the same time period, but Brisbane-Gold Coast residential property values fell 0.76% in 2012 - despite many predicting a recovery in the region.

Canberra prices fell 1.01% in December, finishing the year 0.33% lower than December,2011, while Adelaide home values droppe 0.79% over the year, falling a final 0.10% last month.