Here’s what’s happening in the Canberra property market according to Corelogic’s Decile report.
The report provides a detailed analysis at different levels of Australia’s property market by dividing the market into ten equal groups (or deciles) based on tiers of property value.
By analysing changes in dwelling values across each decile, the report identifies which parts of the market are over or under performing relative to the headline trends, summarising property market conditions nationally and across each of the capital cities.
Canberra dwelling values increased by 0.5% over the three months to April 2018.
Over the 12 months to April 2018 values increased by 2.6%.
Although values have continued to increase and remain at historic highs, the annual rate of growth over the past year was the slowest it has been since June 2016.
While values have increased over the past three months, they have fallen across the 3rd and 4th deciles and the 6th decile has recorded the largest fall.
All other deciles have recorded an increase in values over the past three months.
Over the period the greatest increase in values was recorded across the most affordable 10% of Canberra properties.
Values have increased over the past year for each of the 10 deciles in Canberra. The greatest rises in values have been recorded across the 7th decile followed by the 8th decile.
The slowest annual growth has occurred for the 10th decile followed by the 6th decile.
Over the past three months, the greatest value falls were for properties with a current value between $594,486 and $651,357 while the greatest increases were for properties valued below $389,604.
Over the past year, values have grown fastest for properties valued between $651,357 and $716,066 and the slowest growth has been for properties valued in excess of $958,485.
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