The past month witnessed a softening in price growth across several markets . Adelaide and Sydney have both paused their upward trends , showing no change , while Brisbane experienced a minimal increase of 0.1 per cent . In contrast , Perth maintains its growth momentum , recording a 1.2 per cent monthly rise , which contributes to an impressive annual growth of 23.9 per cent , pushing the mean price to $ 833,326 .
Canberra , Melbourne and Hobart have all entered negative territory with a 0.2 per cent monthly decline . These markets also demonstrate the most modest annual value increases : Canberra up by 4.7 per cent , Melbourne by 3.4 per cent , and Hobart , with limited activity , seeing just a 3.1 per cent yearly growth to $ 750,547 . Darwin remains the most affordable capital city with a mean price of $ 604,696 , showing a 0.4 per cent monthly increase ( 5.5 per cent over the year ).
Capital city house price growth
Geometric mean house prices per capital city and percentage growth over the past month and past year - Australia
Capital City Jun 2024 Month on month change Year on year change
Perth $ 833,326 1.2 % 23.9 %
Adelaide $ 834,471 0.0 % 12.8 %
Brisbane $ 946,848 0.1 % 11.9 %
Sydney $ 1,582,779 0.0 % 7.2 %
Darwin $ 604,696 0.4 % 5.5 %
Canberra $ 1,086,448 −0.2 % 4.7 %
Melbourne $ 1,045,351 −0.2 % 3.4 %
Hobart $ 750,547 −0.2 % 3.1 %
Capital City $ 1,066,083 0.2 % 9.9 %
Australia $ 886,818 0.2 % 9.5 %
Source : Neoval