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Perth values are still soaring, but there\u2019s a surprise new contender. Picture: Stephen Brookes<\/p>\n
It\u2019s full steam ahead for the real estate market coming into Christmas with a new report revealing nationwide home value growth over the past month.<\/p>\n
The December edition of PropTrack\u2019s Home Price Index showed national home prices rose by 0.51 per cent in November, pushing annual growth for all dwellings to 8.7 per cent.<\/p>\n
Australian houses rose by $89,700 for the year, to now sit at a median value of $969,000. Units grew by $57,400 to reach $713,000.<\/p>\n
Three interest rate cuts this year, in addition to population inflow, investor activity and the federal government\u2019s expanded home guarantee scheme were key factors in driving price growth, according to REA Group senior economist Eleanor Creagh.<\/p>\n
STATE-BY-STATE<\/p>\n
NSW: Sydney house prices soar on back of new scheme<\/a><\/p>\n QLD: Brisbane house price surges as Qld booms<\/a><\/p>\n SA: Adelaide property prices hit frightening new record<\/a><\/p>\n VIC: Typical Victorian priced out of most homes<\/a><\/p>\n \u201cThese will continue to bolster demand, along with upgrade activity,\u201d Ms Creagh said. \u201cMeanwhile, stock on market has been pretty tight this year, despite having seen an uplift over the past month with the spring selling surge.\u201d<\/p>\n The sun is shining on the Darwin market this spring. Picture: Getty Images<\/p>\n Regional areas led the way, growing by 0.6 per cent for the month and 9.26 per cent annually, while capital cities grew 0.48 per cent and 8.54 per cent for month and year respectively.<\/p>\n Perth remains the strongest performing capital, with 0.9 per cent growth for the month bringing its annual surge to 15.5 per cent.<\/p>\n<\/p>\n