Adelaide, Perth Median Dwelling Prices Surpass Melbourne

Melbourne’s home values have declined for 6 consecutive months, influenced by the increased tax burden on investment properties.

Medium density houses are seen in Sydney, Australia, on Jan. 11, 2024. Jenny Evans/Getty Images

For the 19th consecutive month, home values have continued to rise nationally, with August recording a 0.5 percent increase, according to property researcher CoreLogic.

However, different cities have shown vastly different performances.