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Hobart has joined Sydney and Melbourne as fast-moving markets, while Perth and Darwin appear to be stagnating.
Sydney median prices reached $812,000 in the June quarter, according to new data from the Real Estate Institute of Australia and Bendigo Bank. That was up 17 per cent on the previous year.
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Melbourne jumped 16.7 per cent to $658,000, while Hobart grew 9.4 per cent to $380,000.
Canberra rose 5.9 per cent to $535,000, Brisbane climbed 5.6 per cent to $470,000 and Adelaide grew 4.5 per cent to $418,000.
However, growth in the other two capitals was below inflation, with Perth up 1.9 per cent to $535,000 and Darwin up 1.4 per cent to $621,000.
The average median price in the eight capital cities was $617,000, which marked a 13.2 per cent increase on the previous year.
Real Estate Institute of Australia president Peter Bushby said the report contained good news for investors, with positive returns for the annual yield in all capital cities.
“Given that the vast majority of investment property is held by ‘mum-and-dad’ investors who often view their property as part of their superannuation plans, these results further demonstrate how access to negative gearing allows everyday Australians to build for their retirement,” he said.
[Related: March quarter report]
