Ray White Now - June 2024 | Page 5

Over the last month , the capital city unit market has exhibited consistent trends , with all markets experiencing monthly value growth . Leading the way is Perth , where median property values have risen by 1.9 per cent this month , reaching $ 511,181 . Adelaide and Brisbane closely follow , each recording a 1.2 per cent increase , while Darwin ’ s values have grown by 1.1 per cent .
In contrast , Sydney and Melbourne have seen minimal fluctuations in property values during this period . Melbourne ’ s values edged up by just 0.3 per cent , reaching $ 620,933 , while Sydney improved by 0.6 per cent to $ 871,316 .
Over the past 12 months , Perth , Brisbane , and Adelaide have witnessed substantial median price growth , exceeding 13 per cent , raising affordability concerns . Melbourne , although consistently improving , has seen more modest value changes , rising by 3.1 per cent over the last year , now the third most expensive city for units , trailing behind Sydney and Canberra .