WHILE growth in the property market slowed down during the second half of the year, it still finished in a better position than it started in all but one capital city.
Canberra was the weakest performing capital city for the year according to the latest CoreLogic RP Data Home Value Index.
Its values dropped by 0.6 per cent year on year to bring its median dwelling price to $520,000.
Nationally values were up by 7.9 per cent across capital cities for the year with the national median house price now $575,000.
Houses continued to perform better than units in terms of growth in values which were up by 8.4 per cent over the calender year compared to just 5.1 per cent for the unit market.
CoreLogic RP Data research analyst Cameron Kusher said houses remained in high demand despite being generally more expensive than units.
“Based on the median price across the combined capital cities, houses are attracting a $100,000 premium over apartments,’’ he said.
Values did not grow as strongly in 2014 as 2013 and Mr Kusher said growth would continue to slow this year.
The Sydney property market was the best performer during 2014 with values up by 12.4 per cent, Melbourne followed with values up 7.6 and then Brisbane which was up by 4.8 per cent.
Adelaide values were 4.3 per cent higher over the year, Hobart by 3.5 per cent, Perth 2.1 per cent and Darwin 1.6 per cent.