Brisbane property prices were up 0.1% for the quarter.
Brisbane property prices were up 0.1% for the quarter. Heidi Costello

Property market takes dip with fall in capital city prices

PROPERTY prices in Australia's capital cities fell in October, interrupting a four-month run of recovery.

The RP Data-Rismark home value index showed only Darwin (4%) and Perth (0.4%) recorded growth for the month.

Across Australia's eight capital cities the aggregate fall in value was -1%, with Hobart suffering the biggest month-on-month drop of -4.5%.

Darwin continued to be the shining light of all capital cities, with its year-on-year growth now sitting at 8.6%, with Perth next on 3.5%.

On a quarterly basis most capital cities experienced a rise in property prices, albeit marginal, with Hobart (-5.7%) and Canberra (-0.8%) the only cities where values were down for the three months.

In Brisbane property prices dipped by -0.9% in October, but were up 0.1% for the quarter.

Year-on-year the Queensland capital has experienced a drop in value of -0.8%.

RP Data research director Tim Lawless said the weak October results showed how precariously the Australian housing market was balanced.

"Whether the October decline is a blip on the path to a recovering market, or a sign of future weakness is yet to be seen," Mr Lawless said.



Man who fled violent country looks to Warwick for security

premium_icon Man who fled violent country looks to Warwick for security

Refugees 'ready and willing' to settle, but one thing is missing.

Transport giant on track to deliver new jobs to Warwick

premium_icon Transport giant on track to deliver new jobs to Warwick

A major investment in the Southern Down is going full steam ahead.

Southern Downs gardeners set example in changing climate

premium_icon Southern Downs gardeners set example in changing climate

Cities look to the Southern Downs as changing climate forces change.

Local Partners