Darwin is the only capital city in the country that did not record a drop in housing prices despite a 1.6 per cent decline recorded in August across all other capital cities, with regional areas across the country showing the sharpest monthly price decline since 1983.

The latest data released by CoreLogic shows a fall nationwide, except for Darwin which registered a 0.9 per cent rise for the month in review.

“We’re seeing housing values falling faster now than what we saw during the global financial crisis and also during the early 1990s and early 1980s recessions,” CoreLogic research director Tim Lawless said.

While Darwin’s housing sector remained resilient, property values in the city still went down by more than 10 per cent from their peak value posted in May 2014.

CoreLogic’s August housing data show that the biggest falls in home values occurred in Sydney, with a 2.3 per cent price drop; Brisbane, with a 1.8 per cent decline; and Hobart and Canberra, both posting a 1.7 per cent decrease in values.

Perth experienced a slight drop of 0.2 per cent and Adelaide with a 0.1 per cent decline. Melbourne, meanwhile, recorded a 1.2 per cent fall in home values.

Home values in regional areas likewise experienced a sharp slide of 1.5 per cent for the period.

Homes, however, remain unaffordable, some experts say, despite the continuing drop in prices as house values nationwide have skyrocketed by 382 per cent over the past 30 years.

CoreLogic said the continued rising cost of living makes it hard for potential home buyers to save money.

The housing income to housing values ratio needs to improve for housing to reach a point to be considered affordable. the company said.

“Renters, in particular, are facing persistent challenges in attaining affordable and secure housing as rents increased by 9.8 per cent nationally over the past year, the fastest rate on record,” CoreLogic head of Australian research Eliza Owen said.

As of June, the percentage of income needed to service a new mortgage shot up to 44 per cent. This is the highest level since 2011.

CoreLogic forecasts homes in the Greater Darwin area to continue bucking the trend of falling house values.

The top three suburbs in Darwin that will continue to experience price growth include Nakara, with a current median price of $637,057 which posted an annual value increase of 16.2 per cent; Wagaman, with a median value of $513,276, up 26.4 per cent annual price growth; and Wulagi posting a median value of $579,251 with an increase of 15 per cent price growth yearly.

Of the three, Nakara commands the maximum median value with an average weekly household income of $2,261. Rentals make up 32.4 per cent of occupied private homes.