Regional Price Index, December 2023

The IPN Regional Price Index analyses the short-term fluctuations in house and unit markets across regions in NSW, VIC, QLD, SA, WA, and TAS, excluding capital city areas. Published monthly, the data is derived from agent-advised sale prices for houses and units and is calculated over a rolling 12-month sample period. Read our December 2023 report.

View our December report here

Regional Price Index Report Highlights

Housing market

  • The pricing index is starting to indicate material variability across states for both capital city and regional areas. However, there are still areas with substantial increases in median prices. WA’s Wheat Belt–South continues to see the largest increase at 28.1%, followed closely by SA Mid North with a 23.5% uplift. QLD Biloela again rounded out the top three at 15.4%, which aligns with QLD being overrepresented in the top 20 housing price increases, with a burgeoning housing market. QLD's city medians are up by 4.7.%, and regional prices climbed by 3.5%.  

Unit market

  • In the unit market, Queensland continues to charge ahead, with WA & SA not far behind. NSW’s Wagga Wagga saw the largest increase with a 21% change over the past three months, closely followed by NSW’s Upper Murray exc. Albury at 12%. QLD continued to show significant movement, with Central Highlands and Rockhampton both seeing an 11% change. QLD saw the largest state change with capital city medians seeing a 5.5% increase over the past quarter, whilst regional areas climbed by 3.1%.

View our December report here