Our property markets took a well deserved breather in May as capital city dwelling values rose 9% over past 12 months
Watch this month’s property market update video to find out what’s going on around Australia.
The CoreLogic RP Data Hedonic Home Value Index reveals the pace of home value growth stalled in May with dwelling values down 0.9% over the month.
After an increase in dwelling values of 3.8 per cent over the first four months of the year, the May CoreLogic RP Data Home Value Index results out today recorded a drop of 0.9 per cent for the month across the combined capitals index; the first month-on-month fall since November last year.
The negative monthly growth figure comes at a time when dwelling values have been trending higher, driven by exceptionally strong housing market conditions in Sydney, and to a lesser extent in Melbourne.
The weaker reading across the May results is likely to be short-lived, with the Index expected to show value better growth next month.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.