PHOTO: Hobart, Tasmania

Hobart was Australia’s best performing city for residential price growth in Q2 2020, Knight Frank’s Global Residential Cities Index Q2 2020 has found.

It led the way with a 10.8 per cent growth, 13th on Knight Frank’s global list of 150 cities, up from 22nd in the Q1 report.

Sydney, Australia’s most expensive capital, wasn’t too far behind with price growth of 9.4 per cent, which saw it rank 20th on the list, down from 14th.

Melbourne was next, in 37th, well down from its top 10 rank in Q1.

The Victorian capital’s residential property still grew 6.8 per cent, sharply followed by Canberra 39th with a growth of 6.7 per cent.

All four of the capitals record growth around double the average growth rate or higher.

There were small gains for Adelaide, who ranked 95 with 2.2 per cent growth, and Brisbane 116th with 0.5 per cent.
The only two Australian capitals to see negative growth were Perth, 131st of the total 150 global cities with it values contracting -1.2 per cent, and Darwin, 144th with a -5.1 per cent contraction.