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Southern capitals are continuing to drive the property market with Sydney and Melbourne continuing to record growth in values.
The latest RP Data Hedonic Index has revealed that Canberra recorded the strongest growth in the country with values up 2.1 per cent for the quarter.
Sydney was close behind with growth of 2 per cent and Melbourne was up 1.8 per cent.
The Darwin recorded a 0.8 per cent increase, while the rest of the capitals suffered losses.
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For Generation Y the great Australian dream of a home in the suburbs is dead, with young people more interested in flash cars and trendy bars.
New figures by Resolution Research show 87 per cent of Gen Ys have no aspiration to ever buy their own dream house.
A majority of the 18 to 32-year-olds said they would rather live close to the city and rent than buy a house further out.
“It is clear that this generation has a dream for the future but it is abundantly clear that it is not in line with the entrenched notion of the great Australian dream,” said Resolution Research director Diana Howes.
