Canberra house values continue to rise through pandemic: Corelogic

House values in the nation's capital increased by 0.5 per cent over August, the Corelogic home value index has showed.

The median value in the territory is now $636,324.

Both standalone properties and units in Canberra recorded the same level of growth over the month at 0.5 per cent. The median value for a standalone house is $716,400 and the median unit value is $450,757.

Canberra had the second highest growth of the capital cities over the month, behind Darwin at 1 per cent.

It came as the national house value declined for a fourth consecutive month, down 0.4 per cent.

Melbourne led the fall down 1.2 per cent, followed by Sydney at 0.5 per cent. Brisbane was down by 0.1 per cent. Values in other capital cities remained unchanged.

READ MORE:

Corelogic head of research Tim Lawless said the performance of capital cities was linked with the extent of social distancing policies and border closures.

"It's not surprising to see Melbourne as the weakest housing market considering the extent of the virus outbreak, and subsequent restrictions, which have weakened the economic performance of Victoria," he said.

"Looking forward we are likely to see a diverse outcome for housing markets around Australia, depending on how well the virus is contained and the regions exposure to other factors such as its reliance on overseas migration as a course of housing demand."