Here’s my monthly video commentary of what’s happening in the housing markets around Australia.
You’ll see me explain how dwelling values across Australia’s capital cities increased by 1.0 per cent over the month of October, but the results were fragmented with only Sydney (1.3%), Melbourne (1.9%) and Brisbane (0.6%) actually recorded value rises over the month.
Dwelling values rose by 2.2 per cent over the three months to October 2014 however, only half of the capital cities actually recorded an increase in values.
This result highlights weaker housing market conditions outside of Australia’s largest cities.
Sydney, Melbourne, Brisbane and Adelaide (which happen to be four of the five largest capital cities), were the only capital cities to record an increase in home values over the past three months.
Sydney continues as a standout with home values increasing at a rate of more than 1 per cent a month, up 3.9 per cent over the past three months. He said that Perth and Canberra have clearly moved through the peak of their growth cycles.
The greatest value falls over the last three months were recorded in Hobart (-2.8%) and Canberra (-2.4%).