PROPTRACK HOME PRICE INDEX: MARCH 2022

The new PropTrack Home Price Index reveals that home prices increased in March, despite considerable slowing across the country. South Australia topped price growth in the month with continued momentum in Adelaide.

Regional price growth continues to outpace capital cities over the past year, with regional New South Wales, Queensland and Tasmania the beneficiaries of the trend towards lifestyle locations and larger homes.PropTrack’s new Home Price Index, launched today, measures the change in residential property prices across Australia, analyses property market trends and provides expert insights on key factors driving the housing market.

Here are the key highlights from the March 2022 report:

  • Australian home prices increased by 0.34% in March. This is around half the decade-average pace of monthly growth and substantially below the rate of growth this time last year.
  • Monthly price growth was highest in South Australia, with Adelaide the top performer of the capital cities.
  • Prices fell very slightly in Melbourne in March, with larger falls recorded in Perth and the Northern Territory.
  • Regional areas continue to outperform the capitals in the post-pandemic market. Prices have increased 24% in the past year in regional areas, but only 15% in the capitals.
  • Over the past year, growth standouts have been Brisbane, regional Queensland, regional NSW and the Australian Capital Territory.

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