What’s happening in the property markets around Australia?
October dwelling values showed a 0.2% rise over the month, with the pace of capital gains continuing to lose steam across Australia’s two largest capital cities.
The hottest housing markets in the nation, Sydney and Melbourne, have continued to see an easing in the rate of capital gain over the month of October, however values continued to show a modest rise of 0.3 per cent, and 0.6 per cent respectively across Australia’s two largest capital cities over the month.
More broadly, dwelling values across the combined capital city index moved 0.2 per cent higher over the month of October, were up by 1.4 per cent over the quarter, and 10.1 per cent higher over the year.
The annual rate of growth across the combined capitals index has been easing since July this year when the index was rising at 11.1 per cent per annum.