August capital city dwelling values rise, albeit slowly: CoreLogic RP Data

August capital city dwelling values rise, albeit slowly: CoreLogic RP Data
August capital city dwelling values rise, albeit slowly: CoreLogic RP Data

Capital city dwelling values continued to rise through August although at a slower rate then previously, according to the CoreLogic RP Data Hedonic Home Value Index for August 2105.

The report found Sydney had the highest monthly movement, with dwelling values in August 1.1% higher. Adelaide is up (0.7%) and Darwin (0.3%), with Melbourne and Brisbane stable.

According to CoreLogic RP Data head of research, Tim Lawless, dwelling values across Melbourne were 8.0% higher over the rolling quarter, and Sydney values were up 7.4%.

"Both cities have seen dwelling values trend substantially higher than other capitals, where the third highest growth rate over the three month period was Brisbane, which showed an increase in values of 2.2%," he said. 

"The three largest capital cities, together with Hobart, have all recorded growth in dwelling values over the past three months, half the nation’s capital cities have recorded a fall in values. Darwin recorded the most substantial decline in values with a fall of 3.2% over the three month period, while Perth values were down by 1.5%, Canberra values were 0.8% lower and Adelaide values are slightly lower, at 0.1%.

"While the August results indicate a slowdown in the rate of appreciation in dwelling values, the quarterly figures highlight just how strong the housing market has been over the past three months; combined capital city dwelling values are 5.3% higher over the three months to the end of August this year."

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August capital city dwelling values rise, albeit slowly: CoreLogic RP Data

Click to enlarge

August capital city dwelling values rise, albeit slowly: 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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