The capital cities where property prices are actually falling
At least four Australian capital cities have recorded a dip in house prices as more homeowners look to sell.
According to CoreLogic's Home Value Index for October, sale listings are up 3.2 per cent compared to the previous year, while auction clearance rates have wound back to the low 60 per cent range.
CoreLogic's research director, Tim Lawless, said the number of housing listings hasn't been this high since 2021.
"The rise in real estate inventory is a seasonal trend, with Spring and early Summer one of the busiest periods of the year for selling," he said.
Melbourne
Melbourne saw the biggest fall in dwelling values, recording a 1.1 per cent downturn through the September quarter.
The median house price is now $777,390.
Canberra
In Canberra, property prices fell by 0.9 per cent.
Buying a home in the national capital will now set people back $844,882.
Hobart
Further south, Hobart dwelling values dipped by 0.8 per cent with the average home now costing around $654,302.
Darwin
In the Top End, Darwin saw an 0.7 per cent drop for the September quarter.
The average house price currently sits at $492,332.
Perth
Perth was one of the capital cities that saw an increase through the September quarter.
Value dwellings jumped by 4.7 per cent with the median house price $797,184.
Adelaide
Adelaide also saw an increase in property prices, recording 4 per cent rise.
The median house price is now $802,075.
Brisbane
Brisbane saw a steady quarterly increase of 2.7 per cent, the lowest rise over a three-year period.
The average amount required to buy a home is $881,091.
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