Our housing markets are slowing, but the results are very fragmented.
In this month’s video we discuss what’s happening around the various Australian property market, the factors affecting the slowdown and what’s ahead.
During March, capital city dwelling values recorded a subtle lift, rising by 0.2 per cent to take capital city home values 1.6 per cent higher over the first quarter of 2016.
The quarterly increase in home values was broad based across the nation’s capitals, with Perth (-0.9%) and Brisbane (-0.1%) the only two cities to record negative movements in dwelling values over the past three months.
The March quarter rise in capital city dwelling values is in stark contrast to the first quarter of 2015, when values increased by 3.0 per cent, which is almost double the current pace of quarterly growth.
However, compared with the final quarter of 2015, when capital city dwelling values were down 1.4 per cent, the housing market has shown a modest rebound in growth which is well below the strong capital gains recorded over the first half of 2015.
The housing and economic data is derived from the CoreLogic Hedonic Home Value Index for the month of March, released April 2016.
You may also wish to read: ANNUAL RATE OF HOUSING MARKET CAPITAL GAINS SLIPS TO SLOWEST PACE IN 31 MONTHS.