Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Residential market achieves solid gains

By Staff Reporter
31 August 2009 | 1 minute read

Home values across Australia have risen by an average of 5.9 per cent in the first seven months of the year, RP Data’s Home Value Index has found.

Advertisement
Advertisement

According to the Index, Australian home values rose by 0.9 per cent in July on the back of low mortgage rates and only small rises in unemployment.

“Australia’s residential property market has outperformed the other major western markets and provided superior returns compared to shares, commercial property, superannuation, hedge funds and private equities,” RP Data national research director Tim Lawless said.

Melbourne and Sydney led the charge in rising house values, with increases of 8.5 per cent and 6.6 per cent respectively.

Darwin was the strongest of all capital cities with home values increasing by 10.8 per cent.

According to Lawless, house prices continued to outperform units in the month of July.

In the three months to end July, house values increased by 2.4 per cent while unit values rose by 1.6 per cent.

 

Residential market achieves solid gains
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Boomerang Beach
66.67%
Gnarabup
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.