Capital city home prices drop again: the state suffering most

National capital city median dwelling values have fallen across the country for the sixth consecutive month, with one state suffering the biggest drop. According to realestate.com.au’s October Home Index, released today, Adelaide has once again suffered the greatest median home value drop of any capital city over the past 30 days, new data shows, with values down for the fourth consecutive month. Adelaide’s median home value dropped 0.6 per cent or $13,000 last month, the report showed, and is down 2.5 per cent from its peak in May. Adelaide’s median combined dwelling value – that of both houses and units – currently sits at $915,000, and is down from $928,000 last month. Houses also took a hit – down 0.6 per cent or $15,000 for the month from a $1.005m median to $990,000. Adelaide unit prices followed suit, dropping 0.7 per cent or $6,000 for the month from a $687,000 median to $681,000. Looking at the other states, both Sydney and Perth suffered value losses of 0.3 per cent for the month to $1.187m and $968,000 respectively, followed by Melbourne and Brisbane which both dropped by 0.2 per cent to $819,000 and $1.033m respectively. Hobart held steady at $729,000, while values incr...