How property prices have changed in each Canberra suburb since last spring: CoreLogic

In the 12 months to August, house values increased in just four Canberra suburbs and unit values rose in 11 suburbs, the latest CoreLogic data has revealed.

Despite the declines, the latest quarterly data shows modest home value gains across a larger share of Canberra suburbs.

Of the suburbs that CoreLogic analysed, Garran had the largest drop in the median house value over the 12-month period.

The median value declined 14.1 per cent to $1,397,070.

The median house value in Kaleen fell 13.1 per cent to $959,503 and the median house value in Cook was down 11.9 per cent to $970,565.

A dozen other suburbs recorded house values declines of 10 per cent or more.

Just four suburbs recorded an increase in house values over 12 months.

Values rose a marginal 0.2 per cent in Theodore, 2.1 per cent in the area that includes Strathnairn and Macnamara, and 3.3 per cent in Denman Prospect.

The largest increase was recorded in Taylor where house values rose 8.8 per cent.

The biggest decline in unit values, which includes apartments and townhouses, was seen in Palmerston where the median value fell 10.8 per cent to $620,968.

Denman Prospect followed with a 10.4 per cent drop in the unit value median to $645,793, while the unit median in Campbell dropped 9.9 per cent to $687,894.

The unit median rose in 11 suburbs and was unchanged in two suburbs. Forrest unit values had the steepest growth, up 8 per cent over 12 months to a median of $837,862.

The quarterly figures paint a more positive picture for Canberra home owners.

In the three months to August, house values increased in more than 60 per cent of suburbs and unit values rose in about half.

Taylor had the biggest rise in house values, with 4.9 per cent growth over the quarter to a median of $999,946.

Unit values rose the most in Barton, with a 5.3 per cent uptick to a median of $648,623.

Across all suburbs, Canberra houses were up 0.6 per cent for the three months to August, while units were up 0.4 per cent.

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In the latest home value report, CoreLogic research director Tim Lawless said it was "clear the Australian housing recovery is firmly entrenched". But the trend, while generally positive, was diverse.

Mr Lawless described Canberra's property values as "flat", saying they had "risen only mildly, up 1 per cent since a trough in April".

The modest growth was due in part to property listings tracking higher than last year, "suggesting a rebalancing between buyers and sellers", he said.

The influx of winter property listings was a positive sign ahead of spring.

"Spring and early summer have historically been more active months for property listings and if the winter months are anything to go by, the spring selling season is likely to be more active than last year," he said.

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