Canberra housing values reach record high in October: Corelogic

Overall values rose by 1 per cent over the month to reach a median of $656,739.

House growth outpaced unit growth, up 1.1 per cent and 0.7 per cent respectively.

As well, Canberra has posted the highest year-on-year growth of the capital cities at 6.8 per cent.

Brisbane, Adelaide and Hobart values also reached a record high.

The national dwelling value rose 0.4 per cent over the month.

Melbourne was the only capital city to post a decline in October, down 0.2 per cent.

Corelogic head of research Tim Lawless said the rise in home values had coincided with other indicators that had improved in recent months.

"Consumer confidence has consistently improved since the virus curve has once again flattened and Australians responded positively to measures announced in the federal budget," he said.

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The low level of supply has helped to boost house prices. While there had been a rise in new listings for sale the total advertised inventory levels remained close to record lows.

Over the month, the combined regional growth of 0.9 per cent outpaced the combined capital city of 0.2 per cent.

"The newfound popularity of working from home is only one factor helping to support regional home prices," Mr Lawless said.

"More affordable price points, lower densities and lifestyle factors are also underpinning the relative strength across many regional areas of the country."