We wanted to share this latest market news with you from RP Data.
2 September 2013
RP Data – Rismark Home Value Index Release
Capital gains move back to more sustainable levels in August
Capital city dwelling values rose a further 0.5 per cent in August taking the cumulative recovery in residential home values to 7.0 per cent since the market bottomed out in May last year.
RP Data and Rismark International today released housing results which showed dwelling values increased by half a per cent over the month of August. The August result is a slowdown from previous months where capital gains were recorded at a much higher rate; 1.6 per cent over July and 1.9 per cent over June.
Highlights over the quarter:
Best performing capital city: Sydney +5.4 per cent
Weakest performing capital city: Hobart, -2.1 per cent
Highest rental yields: Darwin houses with gross rental yield of 6.1 per cent and Darwin Units at 6.3 per cent
Lowest rental yields: Melbourne houses with gross rental yield of 3.6 per cent and Melbourne units at 4.3 per cent
Most expensive city: Sydney with a median dwelling price of $587,000
Most affordable city: Hobart with a median dwelling price of $289,000