The report said the figures mark the 12 month anniversary of Australia's housing correction,with prices peaking in September last year and values dropping 2.7 per cent since then.
While house prices in Canberra experienced 3.1 per cent increase in the last year,unit prices were down 1.4 per cent on a year ago. The median value of a house in Canberra in September was $686,582 and for a unit the median was $443,791.
CoreLogic head of research Tim Lawless said the housing market had slowed in line with heightened regulation across the finance sector,and the report warns that house hunters could have their borrowing power slashed by close to a third if banks are forced to tighten their lending standards as a result of the royal commission.
Analysis of CoreLogic figures by Capital Economics warned the full effect of tighter credit conditions and higher mortgage rates has yet to be felt.
"Our view is that house prices may eventually fall by 12 per cent,which would be the longest and deepest housing downturn in at least three decades,"said chief economist Paul Dales.
Meanwhile market analysts say the banking royal commission's interim report has raised the likelihood of a borrower credit crunch,with commissioner Kenneth Hayne suggesting banks had to do more to check customers could afford the home loans they were taking out.
The report found that banks had assumed that borrowers'household spending was equal to the benchmark index,the Household Expenditure Measure (or the HEM),in as many as three out of four home loans examined by the banking watchdog in 2017.