Hobart property prices

With improved connectivity and infrastructure, Australia is becoming closer to the rest of the world, and now cities such as Canberra and Hobart are benefiting, as well as Sydney and Melbourne, according to Knight Frank.

Chris Wilkins, agent with Ray White Drummoyne, told SCHWARTZWILLIAMS he expects prices to fall up to another 5 per cent this year.

There is still "underlying strength" in the Sydney market, says Chris Wilkins of Ray White Drummoyne.

Median property prices across Australia's capital cities continued to rise in the June quarter, according to the REIA Real Estate Market Facts report.