The surprise Aussie city where housing prices are up more than 20 per cent in a year
Critically low housing supply continues to outweigh the high inflation and interest rate pressures to drive house price growth, with dwelling values rising 0.6 per cent in April, according to new data from CoreLogic.
The national median dwelling price is now at $779,817 after an 8.7 per cent increase around the country in the past year.
But some of Australia's capitals particularly drove that upward trend, with one unexpected city gaining more than 20 per cent in housing prices in the past 12 months.
Here's how the capitals stacked up.
9. Hobart
Hobart was the only capital to go backwards overall in the past 12 months, with dwelling prices falling 0.4 per cent to a median of $648,074. But they've been increasing recently, up 0.3 per cent in April.
8. Darwin
Darwin remains the cheapest prospect for housing, despite values increasing 1.9 per cent in the past year. Dwelling values are at a median of $496,228.
7. Canberra
Dwelling prices in the nation's capital lifted 2.1 per cent in the past 12 months to average $847,604 in April.
5. Combined regional
House prices in regional Australia - represented here by the NSW town of Dubbo - are also on the up, rising 6.4 per cent to a median of $622,781.
4. Sydney
Sydney is still far and away the most expensive place to buy, with a median dwelling value of over $1.14 million.
Prices lifted 8.7 per cent in the past year, in line with the national average.
3. Adelaide
The remaining three capital cities experienced far larger price surges than the others.
Adelaide home values leapt 14 per cent to average $747,732.
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