Capital city home values have rebounded in June with values up 3.8% for the past twelve months according to the latest RP Data Rismark combined capital city index.
Property values rose by 1.9 per cent in June with the top performers being Sydney increasing 2.7 per cent and Melbourne up 2.3 per cent for the month.
Key statistics for the quarter include:
- Best performing capital city: Sydney and Adelaide +1.2 per cent
- Weakest performing capital city: Darwin, -2.7 per cent
- Highest rental yields: Darwin houses with gross rental yield of 6.2 per cent and Darwin Units at 6.2 per cent
- Lowest rental yields: Melbourne houses with gross rental yield of 3.7 per cent and Melbourne units at 4.4 per cent
- Most expensive city: Sydney with a median dwelling price of $580,000
- Most affordable city: Hobart with a median dwelling price of $316,000
According to RP Data research director Mr Lawless, the capital gains recorded over the financial year highlight that lower mortgage rates are starting to have a positive impact on the housing market, however current conditions are far removed from the buoyant conditions experienced in 2009.
Key statistics, tables and graphs are available here.