After a couple of months of strong growth real estate activity has peaked and will ease over the coming period according to the latest figures from RP Data.
According to RP Data’s Market Activity Index, real estate activity increased by 17 per cent at the beginning of June and is currently 26 per cent higher than the same period last year.
The consistently high measure in the index suggests that real estate agent listing activity is at its highest point and will likely start to taper over the coming month as agents shift focus from listing to selling.
The RP Data – Rismark Home Value Indices for August, released earlier this week, showed a significant jump in property values.
Over the last twelve months Australian property values have increased by 6.6 per cent (houses up 6.0 per cent and units up 8.3 per cent).
The largest gains have been in Darwin, however, data over the last quarter shows that Melbourne is starting to rival the northern state’s dominance as the number one capital city for value growth.
Sydney houses remain the most expensive in the nation with a median value of $603,154 – $89,000 higher than the national average.