How ASX shares vs. property performed in February

We reveal the property price growth for each city and regional market and the top 5 risers of the ASX 200.

A young couple stands next to a real estate agent in an empty apartment they are inspecting

Image source: Getty Images

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In the shares vs. property contest last month, the S&P/ASX 200 Index (ASX: XJO) rose by 0.23% while the CoreLogic Australian home value index appreciated 0.6%.

The index measures the entire housing market, including houses, townhouses, and apartments.

If we break down the latest data from CoreLogic further, we see that the median Australian house price increased by 0.6% in February to $825,923. The median apartment price rose by 0.2% to $628,980.

CoreLogic research director Tim Lawless said property values were "more than resilient" amid high interest rates and cost-of-living pressures. The key driver of this resilience is a persistent imbalance between supply and demand, which Lawless says varies in size across the capital cities and regions.

Perth was once again the standout capital city last month with a very strong 1.8% rise in median home values. Next came Adelaide at 1.1% and Brisbane at 0.9%. Among the regional markets, South Australia was on top with 1.1% growth, followed by Western Australia and Queensland with 1% growth each.

Lawless said:

These regions are generally benefiting from a combination of comparatively lower housing prices and positive demographic factors that continue to support housing demand.

Melbourne pivoted from three months of negative growth to 0.1% growth in February. Sydney property values recorded a second month of price rises after booking subtle falls in November and December.

Lawless added:

Potentially we are seeing some early signs of a boost to housing confidence as inflation eases and expectations for a rate cut, or cuts, later this year firm up.

Shares vs. property price growth in February

Here is how shares vs. property performed in terms of price growth in the month of February.

Property marketMedian house pricePrice growth in February12-month price growth
Sydney$1,395,8040.4%11.7%
Melbourne$942,7790.1%4.4%
Brisbane$899,4740.9%15.7%
Adelaide$779,9141%11.7%
Perth$718,5601.8%18.6%
Hobart $698,508(0.1%)(0.2%)
Darwin $577,7860.4%(0.1%)
Canberra$967,6710.8%2.3%
Regional New South Wales$747,1460.4%3.6%
Regional Victoria$601,6590.1%(0.8%)
Regional Queensland$617,5910.9%9.9%
Regional South Australia$407,6551.1%9.6%
Regional Western Australia$494,6551%10.8%
Regional Tasmania$523,0010.4%(0.6%)
Regional Northern Territory$460,5992.1%(2.1%)

Source: CoreLogic

Top 5 risers of the ASX 200 in February

The S&P/ASX 200 Index (ASX: XJO) appreciated by 0.23% in February.

According to CommSec data, these ASX 200 shares below were the top risers of the month.

ASX 200 shareShare price growth in February
Lovisa Holdings Ltd (ASX: LOV)40.9%
Altium Ltd (ASX: ALU)30.4%
WiseTech Global Ltd (ASX: WTC)29.4%
Reliance Worldwide Corporation Ltd (ASX: RWC)29.3%
CSR Ltd (ASX: CSR) 27.23%

Source: CommSec

The February earnings season produced winners and losers, and most of the top 5 ASX 200 shares rose due to outstanding financial reports.

Budget fashion jewellery chain Lovisa soared following the company's strong 1H FY24 report.

Despite today's cost-of-living crisis, Lovisa delivered an 18.2% increase in revenue to $373 million and a 12% bump in net profit after tax (NPAT) to $53.5 million.

Lovisa shares will pay an interim dividend of 50 cents per share with 30% franking.

That's a more than 30% increase on the 1H FY23 dividend of 38 cents.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Lovisa, Reliance Worldwide, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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