NEWS
Australian house prices rise
The February 2009 RP Data-Rismark Hedonic Index results indicate that the Australian residential property market is experiencing a slow recovery from the slight 3 per cent falls seen in 2008.
This has been helped by a 40 per cent reduction in mortgage rates from a peak of 9.6 per cent in August 2008 to 5.8 per cent today with the prospect of further cuts in coming months.
In the first two months of 2009 all Australian residential property values increased by a robust +1.1 per cent based on the latest indicative RP Data-Rismark index results.
Most of the gains came in February. House prices increased by 0.8 per cent and unit prices rose by 2.0 per cent over this period.
Source: RP Data
Published: 03 April 2009
