House prices rise with regional market outperforming capital cities, CoreLogic data shows

House prices in regional Australia have risen at a higher annual rate than in capital cities for the first time in more than 15 years, as COVID-19 increases people’s desire to live outside the big smoke.

Annual data by real estate analysts CoreLogic shows dwelling values in capital cities rose 2 per cent during 2020.

That compares to an almost 7 per cent increase for regional markets.

“Regional markets haven’t outperformed the capital city markets since 2004,” CoreLogic research director Tim Lawless said.