Canberra home values rose in March, with the monthly growth in house prices outpacing units.
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It appeared the housing market was performing "better than most would have expected" considering the high interest rate and cost-of-living environment, CoreLogic's latest home value report stated.
Values across all Canberra dwelling types rose 0.4 per cent to a median value of $838,976 during March.
The growth was led by a 0.5 per cent rise in house values to $964,136. Meanwhile Canberra units recorded more subdued growth, up 0.1 per cent to $585,057.
It follows a 0.5 per cent rise in home values in February, CoreLogic's revised figures show.
Across the combined capital cities, home values rose 0.6 per cent in March marking the 14th straight month of growth.
However there was a broad range between the different markets.
Darwin was the only capital city to record a monthly decline, with home values down 0.2 per cent, while Perth had the highest rate of growth at 1.9 per cent for the month.
CoreLogic research director Tim Lawless said Perth's "extreme growth conditions" came down to its relative affordability compared to the rest of the country.
"The diversity in housing value outcomes can be explained by significant differences in factors like housing affordability, demand-side pressures from population growth and shortcomings in housing supply," he said.
House rents rise in March
Canberra house rents rose 0.3 per cent in the 12 months to March, following a period of decline.
Rent values for units also increased and were up 1.2 per cent for the year to March.
Gross rental yields in March were 3.7 per cent for Canberra houses and 5.1 per cent for units.
![Canberra home values rose again in March. Picture by Dion Georgopoulos Canberra home values rose again in March. Picture by Dion Georgopoulos](/images/transform/v1/crop/frm/146508744/f329fc39-c20a-4ee2-96f0-640dfb2be7b0.jpg/r0_750_7500_4983_w1200_h678_fmax.jpg)
Mr Lawless said while there was significant diversity across the capital cities, home values and rents were seeing "broad-based rises".
"Overall, it looks as though housing markets are continuing to traverse the high interest rate and high cost-of-living environment better than most would have expected," he said.
With economists predicting interest rates will fall some time this year, there were positive signs ahead for the property market.
"The outlook for housing values remains positive amid a growing expectation that interest rates will start to fall later this year, providing a boost to borrowing capacity and consumer sentiment," Mr Lawless said.