The ABS has released its property price index – incorporating both detached houses and units – which registered a 0.7% decline in home values nationally over the March quarter but a 2.0% gain over the year, a sharp slowing from the 5.0% annual growth initially reported in the year to December:
Sydney (-1.2%), Melbourne (-0.6%), Brisbane (-0.6%), Perth (-0.9%), and Darwin (-1.1%) recorded quarterly declines in values, whereas values rose in Adelaide (+0.5%), Hobart (+4.3%) and Canberra (+0.9%).