The latest RP Data – Rismark Home Value Index report has reported that the September capital city home values figure is the best result in 7 months – down just 0.2 per cent. The report’s authors note that Australia’s soft housing market may be starting to turn the corner.
The report also noted continued strong growth in rents. According to the ABS, rents expanded by 1.2 per cent in teh September quarter and by 4.6per cent over the year. RP Data’s research director, Tim Lawless, said “In the month of September there were wide divergences in the performance of the individual cities. In contrast to recent results, seasonally adjusted dwelling values actually rose in Brisbane (+0.4 per cent) and Adelaide (+0.5 percent). They were flat in Darwin (0.0 percent) and down just slighthly in Perth (-0.1 per cent).”
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