Capital city prices continue dominance over regionals

By Staff reporter

29 April 2015

City brokers have enjoyed substantially larger loan values than their country cousins during the past year, if new data is any guide.

According to CoreLogic RP Data statistics, capital city house prices throughout Australia grew about twice as fast as regional prices during the 12 months to 31 March 2015.

NSW recorded the greatest disparity, with the median metropolitan house price rising 13.4 per cent to $800,000 as the median country house price rose 5.6 per cent to $385,000.

Victoria’s median metropolitan house price climbed 6.6 per cent to $550,000, while the median country house price climbed 2.5 per cent to $200,000.

South Australian prices grew 5.1 per cent to $426,000 in the city and 1.8 per cent to $290,000 in the country.

Tasmanian prices increased 3.0 per cent to $360,000 in the city and remained flat at $252,000 in the country.

In Western Australia, the median metropolitan house price climbed 3.8 per cent to $550,000, while the median country house price climbed 1.3 per cent to $385,000.

Northern Territory saw metropolitan prices rise 5.6 per cent to $570,000 as country prices rose 4.5 per cent to $415,000.

Queensland had the smallest growth gap, with metropolitan house prices up 4.9 per cent to $490,000 and country house prices up 3.8 per cent to $410,000.