May 06, 2014
Data released by property research firm RP Data shows that nationally, capital city dwelling values increased 2.3% during March with every capital city recording a rise for the month.
The March increase boosted the first quarter of 2014’s growth result to 3.5%, with every capital city except Perth recording a rise in dwelling values over the past three months.
Melbourne posted the highest level of growth at 5.4% over the quarter with Sydney and Hobart also recording strong results of 4.4% and 4.7% respectively.
According to RP Data research director Tim Lawless, half of Australia’s capital cities are now posting record high dwelling values, with Sydney’s housing market showing the most substantial increase beyond its previous market high.
To view how all the state capitals are performing, refer to the RP Data’s latest infographic here.