NEWS
According to the market-leading RP Data–Rismark Hedonic Home Value Index, Australia’s capital city home values remained relatively flat in the month of July recording a modest, seasonally-adjusted increase of 0.4%
In the period between end 2008 and March 2010, Australian home values rose by 16.3%.
There is a possibility of modest gains if mortgage rates remain in check and economic conditions continue to improve.
According to RP Data’s research director Tim Lawless: “Substantial falls in Australian home values look very unlikely”.
He said, “The number of homes being advertised for sale across Australia is only 5% higher than what we saw at the same time last year. We aren’t seeing a blow out in stock levels and properties are taking on average about 40 days to sell, which is only a little higher than recent experience”.
Source: RP Data
Published: 02 September 2010
