In the 12 months to February, property values in the combined capital cities increased by only 0.8 per cent. Considering inflation last year was 2.7 per cent, properties became more affordable in real terms.
The big obstacles to entering the market are relatively high standard variable mortgage rates (115 basis points higher at February 1, 2011, than at the same time last year) and that capital city property values have increased by 15.9 per cent since the start of 2009.
Among capital cities, only Sydney (3.3 per cent), Melbourne (2.5 per cent), Canberra (0.7 per cent) and Adelaide (0.6 per cent) have recorded value growth in the past year.
Values in Brisbane fell by 5.3 per cent in the year to February - the weakest of any capital.
The median house price in Brisbane is $451,000 and the median unit price is $380,000.
Read more at thecouriermail.com.au