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Sydney, Melbourne house values surge through start of the year

House values across the nation’s capital cities surged another 1.1 per cent through January with Sydney and Melbourne poised to break key price barriers.

CoreLogic on Monday reported that house values in Sydney alone rose by 1.5 per cent in January, taking the median value there to $994,300. Over the past quarter, values rose by 6.7 per cent or by more than 27 per cent at an annualised rate.

Melbourne was not far behind. House values there lifted by 1.4 per cent last month with the median value reaching $798,671. Over the quarter, values were up by 5.6 per cent or by more than 22 per cent at an annualised rate.

House values surged again through January with CoreLogic reporting a 1.5 per cent lift in Sydney house values and a 1.4 per cent jump in Melbourne.

House values surged again through January with CoreLogic reporting a 1.5 per cent lift in Sydney house values and a 1.4 per cent jump in Melbourne.Credit:Peter Rae

All major capitals reported a rise in house values through the month. They were up by 0.7 per cent in Brisbane, by 0.2 per cent in Adelaide, by 0.1 per cent in Perth, by 0.9 per cent in Hobart and by 0.3 per cent in Canberra.

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