According to the CoreLogic results, dwelling values increased by 0.1% across the combined capital cities in April, with housing market conditions slowing in both Sydney and Melbourne.
The result for the Melbourne property market was also lower than previous months of 2017, with dwelling values up 0.5% over the month.
Melbourne values increased slightly more at 12.6% in the same period.
The largest capital cities continued to show the lowest rental yields; Sydney and Melbourne both recorded a gross yield of 2.7% for detached houses in April.
Affordability constraints are very much evident across Sydney, and to a lesser extent Melbourne which would be progressively impacting on housing demand.
One of the more interesting developments in a Melbourne housing market has been a rebound in weekly rents.
Rents are now rising in just over 4% per annum across both the house and unit sector.
With capital gains across the unit sector now below 4% per annum, there’s actually been a slight improvement in the gross yield for Melbourne units rising from 4% to 4.1% over April.
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