Sydney’s growth in dwelling values has continued to outpace the other capital cities, according to a report by CoreLogic RP Data.
The report revealed that Sydney’s home values increased 12.4 per cent over the 12 months to 18 January.
Melbourne was the next best performing capital city, recording a 7.2 per cent growth in its dwelling values, while Brisbane recorded a 5.7 per cent increase.
Adelaide and Perth witnessed modest increases, up 2.4 per cent and 0.7 per cent respectively.
The five capitals experienced a combined average growth of 7.9 per cent in the value of their dwellings.
The report also showed that Darwin posted the highest growth in properties listed for sale over the same 12-month period – up 28.6 per cent to 1,235 listings.
Canberra recorded an 18.2 per cent growth with a total of 1,759 listings, while Perth grew 12.8 per cent to 16,830 listings.
The number of properties listed for sale was down 3.3 per cent in Brisbane and 6.3 per cent in Hobart, with their total listings at 16,833 and 2,816 respectively.
Melbourne, Adelaide and Sydney all experienced a double-digit decrease in property listings. Melbourne fell 10 per cent to 24,681 listings, Adelaide fell 11.3 per cent to 6,912 listings, and Sydney fell 13.9 per cent to 13,494 listings.