Key takeaways

CoreLogic's national Home Value Index (HVI) rose 0.6% in March, taking the current upswing in housing values through its 14th straight month of growth.

Since declining -7.5% between April 2022 and January 2023, the national HVI has increased 10.2%, or, in dollar terms, by approximately $71,832, rising to new record highs each month since November last year.

Every capital city except Darwin (-0.2%) recorded a rise in dwelling values over the month.

The national quarterly pace of growth has accelerated from 1.4% in Q4 last year to 1.6% in Q1 2024.

After being led by the upper quartile most of last year, the strongest growth conditions have migrated to the lower quartile across most capital city markets. Across the combined capital cities, lower quartile home values increased by 3.1% in the first quarter of the year compared with a 0.7% rise across the upper quartile of the market.

Regional housing markets are also recording a rise in values, with similar levels of diversity as their capital city counterparts.