Melbourne tops the list of best performing capital cities in March quarter: RP Data-Rismark

The top performing capital cities in the March quarter, according to the RP Data-Rismark Home Value Index.

• 5.4% 
  
  Melbourne was the best performing capital city over the March quarter recording a 5.4% rise in dwelling values. With a median dwelling price of $515,000 Melbourne's dwelling values have increased by 11.6% over the past 12 months.
  
  
• 4.7% 
  
  Hobart recorded a strong gain of 4.7% in the March quarter. However, this result is tempered somewhat by the year on year stat, which indicate that values in the Tasmanian capital have only increased by 0.9% in that time frame. Hobart remains the country's most affordable capital city with a median dwelling value of $338,000.
  
  
• 4.4% 
  
  Sydney continued its strong market gains, ticking up by another 4.4% over the March quarter. The median dwelling price is now $630,000, a year on year rise of 15.%.
  
  
• 2.8% 
  
  Darwin recorded the strongest gain in the month of March of 3.3%, contributing to its quarterly gain of 2.8%. Darwin's median dwelling price remains second behind Sydney at $547,000.
  
  
• 2.0%
  
  A strong March result of a 2.2% rise in dwelling values, saw Canberra head back into positive territory. The nation's capital posted a 2.0% increase over the March quarter and values are now up by 1.7% on this time last year.
  
  
• 1.5% 
  
  Brisbane has been tipped by some experts as the next capital city market to take-off. These forecasts have yet to come to pass and Brisbane values were up only 1.5% in the March quarter. While Sydney and Melbourne have seen values shoot up by 15.6% and 11.6% respectively over the last 12 months, other capital city markets have remained below 5% over the period. Brisbane was the next best, recording a 4.8% rise year on year, while Perth and Adelaide followed shortly behind at 4.7% and 4.6% respectively.
  
  
• 1.2% 
  
  Adelaide secured its entire quarterly gain in March when values increased by 1.4%.
  
  
• -0.6% 
  
  Perth was the only capital city to show a negative change in dwelling values over the March quarter. Perth values were up 4.7% on a year on year basis.
  

Source: RP Data-Rismark Home Value Index