Melbourne takes the baton of strong housing price growth: CoreLogic RP Data

Melbourne takes the baton of strong housing price growth: CoreLogic RP Data
Melbourne takes the baton of strong housing price growth: CoreLogic RP Data

Melbourne is the best performing capital city over the three months to September with a 7.4% rise in dwelling values, according to CoreLogic RP Data's Home Value Index.

Melbourne houses had a gross rental yield of 2.9% and units on par with Sydney at 4.1%

Highest rental yields were recorded in Darwin, with houses reaping a grow rental yield of 5.4% and units at 5.8%

CoreLogic RP Data head of research Tim Lawless said the first month of Spring provided mixed results across the capital city housing markets with the headline results showing a 0.9% rise in capital city dwelling values over the month, and a 4.0% increase over the September quarter.

"Across the capital cities, the month-on-month results ranged from a 2.4% rise in Melbourne dwelling values, through to a 1.9% fall in values across the Hobart market. Australia’s largest and most expensive capital city housing market, Sydney, posted a month-on-month gain of just 0.1% in September," he said.

"During the September quarter, half of Australia’s capital cities posted a decline in dwelling values with Hobart down 2.0% over the three months. Adelaide values slipped by 1.6%, Perth by 0.7%, and Canberra values were down 0.4%.  The most substantial capital gains over the quarter were achieved in Melbourne where dwelling values were up by 7.4%, followed by Sydney (+4.6%), Brisbane (+1.9%) and Darwin where values were up by 0.4%."

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Melbourne takes the baton of strong housing price growth: CoreLogic RP Data

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Housing Values Dwelling Prices

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