Canberra house values rose modestly in March, as further falls in Sydney and Melbourne continue to drive a national property market downturn, according to new data.
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House prices in the ACT increased by 0.1 per cent, while unit values dipped by 0.4 per cent, the data published by real estate analytics firm Core Logic on Monday found.
The March result marks a modest upswing for Canberra house prices, which reported a 0.1 per cent decline in February.
The ACT's median house price sits at $699,911. The territory's average unit is worth $434,091.
Canberra house values have increased by 3.9 per cent in the 12 months to March, but much of those gains were made in the first half of last year.
The market began to slow in the back end of 2018, as house values stagnated for the first time in six years.
Core Logic head of research Tim Lawless said the latest figures suggested the Canberra market was "starting to lose a bit of steam".
But Mr Lawless stressed the "flat reading" was not cause for alarm, particularly when the result was compared with other cities.
Melbourne house values dropped by 1.1 per cent in March, for a 12-month decline of more than 12.4 per cent - the sharpest decline among Australia capital cities.
Sydney house values have fallen 11.8 per cent in the past 12 months.
Nationwide, house values have dropped 7.4 per cent, and unit values 5.6 per cent, since March 2018.
Mr Lawless said while the rate of decline had slowed in past four months, the property downturn was now more "geographically widespread".
Canberra and Hobart were the only capital cities where house prices increased in March.
The steepest falls were recorded in Melbourne (1.1 per cent), Darwin (1 per cent), Sydney (0.7 per cent).
