The past month witnessed a softening in price growth in many markets with the divergence in values across Australia widening . Melbourne and Hobart are recording weak results with Melbourne impacted by poor economic performance and lack of investment demand . Both markets recorded monthly declines of 0.1 per cent and 0.2 per cent respectively with Hobart showing price reductions over the year of 0.6 per cent .
Perth continues to run hot with the strongest monthly improvement of 2.2 per cent , bringing annual increases to over 25 per cent with a mean of $ 860,809 . With limited construction activity across this market , competition to purchase stock is likely to continue despite a slowdown in population projections . Brisbane also benefited from similar fundamentals as Perth , however some moderation from the rapid increases has now occurred , growing 0.8 per cent this month to $ 971,496 . Sydney activity has also slowed , growing 0.3 per cent on the month . The annual increase still sits at 6.5 per cent in the most expensive city in Australia , with a mean of $ 1,0601,645 .