Home prices have risen in every Australian capital city except Darwin, with nationwide home prices rising 1.1 per cent last month and five now at record highs. Prices in Melbourne rose 1.2 per cent last month to a record high, erasing an 11 per cent fall from their peak at the end of 2017.
Despite a 1.7 per cent rise last month, Sydney prices are still 3.7 per cent below their 2017 peak. Sydney house prices fell by 15% during the downturn that ended late last year. Brisbane, Canberra, hobart and Adelaide also saw record prices. Perth home prices rose 0.3% last month and haven’t fallen in four months.
But Tim Lawless, head of research at CoreLogic, said he did not expect western Australia to return to record high prices for a long time.
https://www.abc.net.au/news/2020-03-02/house-prices-surge-in-february/12015772