Key points on the home price index for June

Interested in the housing and property market? Look no further, we’ve compacted some of the main trends observed from June of this year…

Key Takeaways

In June, Australian home prices went up by 0.3% compared to the previous month. Only 0.1% lower than they were a year ago. Home prices in major cities increased slightly by 0.06% over the past year.

Sydney’s housing market showed a strong recovery, with prices rising by 4.5% since their lowest point last year. In June, Sydney’s prices were only 3% below the highest point they reached in February 2022.

However, June’s home prices decreased in Hobart and Darwin. Hobart’s prices have been performing less well lately, having dropped more than 7.15% below their highest level.

Throughout the year, home prices in capital cities grew faster (up 3.0%) compared to regional areas (up 0.8%). But in the previous year, regional areas held their prices better, meaning they are closer to their peak values compared to the cities.

All information is from June of 2023, sourced from realestate.com.au.