At the start of this month we’ve seen another cut to the cash rate taking official interest rates down to a new historic low of 1.75% with most of Australia’s largest banks passing on the full rate cut.
In April, the pace of capital gains rebounded from the relatively flat numbers recorded in March, with dwelling values increasing by an average of 1.7 per cent across the CoreLogic RP Data combined capitals’ index.
The latest figures now take the combined capital city dwelling values measure 3.3 per cent higher over the first four months of 2016.
Across the country, housing market trends remain mixed, however, CoreLogic RP Data research noted that the improvement in the rate of capital gains has been ‘broad-based’ during 2016 with every capital city except Perth recording a lift in dwelling values over the calendar year to date.
The results show value growth moved at a faster pace compared with the final three months of 2015 when capital city dwelling values slid 1.4 per cent lower off the back of weaker market conditions in Sydney and Melbourne.
The housing and economic data is derived from the CoreLogic Hedonic Home Value Index for the month of April, released May 2016.