September 04, 2014
Capital city property values have increased 4.2 per cent over the 3 months to the end of August according to figures released by property research firm RP Data.
The growth rate is the highest for the 3 months of winter since 2007 and was driven mainly by increases in Melbourne and Sydney which recorded a 6.4 per cent and 5.0 per cent increases.
Nationally, capital city values have grown 10.9 per cent with Sydney 16.2 per cent and Melbourne 11.7 per cent, the only cities to record double digit growth.
Other capital cities to record more moderate growth over winter were Canberra 2.4 per cent, Adelaide 1.5 per cent, Brisbane 1.3 per cent and Perth 1.0 per cent.
With the Spring selling season now upon us, RP Data are expecting a rise in listings over the coming months which will provide a real test for the property market.
The full RP Data statistics can be viewed here.
If you are planning to purchase a property during this Spring, we can provide you with a free property report on a particular property which includes a price estimate.
For more information, call us today on 03 9432 6070 or click on the 'contact us' tab at the top of this page.