Property values improve in capital cities

Property values improve in capital cities

Posted on Friday, March 01 2013 at 2:47 PM

2013 is off to a good start, according to the RP Data – Rismark Home Value Index which recorded a rise in selling prices for four of Australia’s capital cities in February this year.

show Melbourne, Sydney, Canberra and Darwin saw house values improve by between
0.1 per cent and 2.3 per cent.

monthly aggregate across all eight capitals was an increase of 0.3 per cent.

Lawless, research director with RP Data, says the positive results aren’t as
broad-based as the January results where half the cities recorded improved values.

trend for most cities remains positive however, with six out of the eight
capital cities showing growth over the past quarter and five of the eight
capitals over the past 12 months.”

says most house markets bottomed out around May 2012 and since then the
combined capital cities index has recorded a 3.3 per cent rise in values.

Skilbeck of Rismark International sees the improvement as a response to a
positive consumer outlook and monetary policy.

an environment of significantly improved consumer confidence, the housing
market is responding positively to almost record low monetary policy settings.”

results are a further sign of the strengthening market with the SQM Research Weekly Vendor
Sentiment Index
released earlier this month revealing the average
capital city house asking prices improved by 1.5 per cent over the past

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