In their latest property market update video RPData explain that our housing market remains soft despite the recent rate cuts.
The RP Data-Rismark May Home Value Index results confirmed a further drop of -1.4 per cent for capital city home values indicating that the housing market has not responded to the latest round of interest rate cuts.
The latest drop brings the cumulative decline to -2.2 per cent over the first five months of 2012 and overall values are down -5.3 per cent over the past twelve months. This short video gives a good explanation of what’s going on….
Tim Lawless is research director at RP Data.
If you enjoyed this blog – please subscribe to my short daily blog – this is a different subscription to my weekly newsletter. Just click here
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.