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Prices rise in all but two capitals

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The major capital cities experienced price growth over the past quarter, with the exception of Brisbane and Perth, according to data from Bendigo Bank and the Real Estate Institute of Australia (REIA).

The data shows the weighted average capital city median price rose by 1.9 per cent for houses and 1.7 per cent for other dwellings in the March quarter.

However, results were patchy across the capital cities.

Hobart prices rose by the greatest margin, climbing 4.1 per cent in the period.

Sydney and Melbourne also recorded surges, rising 3.1 per cent and 3.7 per cent respectively.

Brisbane and Perth, on the other hand, took a hit in the first part of the year.

In Brisbane, the median fell by 1.1 per cent to $460,000.

The tumble in Perth was more dramatic, with prices coming down by 1.6 per cent to a median of $540,000.

For other dwellings, results were less positive.

Sydney, Melbourne and Darwin were the only cities to see a rise in the median price.

Darwin, in particular, underwent a rapid increase as the median price for other dwellings rose by 18 per cent.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%