Melbourne and Sydney record the highest dwelling value increases over the Month of August
16th Sept 2016
According to CoreLogic latest data, property values continue to rise in six out of eight capital cities in the month of August. Melbourne and Sydney have seen the most movement in dwelling prices, recording an increase of more than 1% month on month. Since June 2012 to date, Sydney has recorded 64% cumulative growth and 44% in Melbourne. Brisbane over the same cycle period has the third highest rate of capital growth, recording 18% and Darwin over the same period was 4%. Perth and Darwin recorded a fall in values over the last twelve months both recording a fall of 4.2%.
CoreLogic head of research Tim Lawless said, “Despite a strong month-on-month reading, the pace of annual capital gains has trended lower compared with the 2015 peak in growth conditions, when capital city dwelling values were rising at 11.1% per annum.”
Over the most recent twelve months we have seen dwelling values rise by a slower rate of 7% growth. Property values in select markets are still trending well, with interest rates at record lows, there is a pick up in first home buyers and investor market.
Source – CoreLogic
