The state and territory breakdown of figures in the report shows house prices in Sydney, Brisbane and Canberra saw an easing pace of quarterly decline, while Melbourne, Adelaide and Hobart stabilised.
More expensive cities like Sydney and Canberra recorded their steepest annual decline in house prices in their cities' history, while Adelaide is the only capital city market to have new record high house and unit prices.
The appetite for units amidst the cost of living crisis persists with prices outperforming houses in the December quarter in Sydney, Brisbane, Adelaide and Darwin, while Melbourne unit prices are in the fastest annual decline in the city’s history.
In Canberra, it's the steepest since 1997.
When you have a look at some of the suburbs across Australia, some of the suburbs that have the highest price per square metre are in suburbs that have a lot of townhouses, where land is really constrained and pressures on price are really high, driving up that price per square metre."
