Monday, August 31, 2009

Solid Gains in July 2009

Over the first seven months of the year Australian home values increased across every capital city, rising by 5.9 percent nationally.

Combined Brisbane house and apartment values up 3.8% to $437,175 for first 7 months of 2009

Brisbane Apartments were high performing, and outperformed Brisbane houses.

Brisbane Units - days on market = 26 days (almost the best in the nation)

Brisbane Units - 7 months to end of July increase - up 6.25%

Brisbane Units - 12 month Year on Year increase (at end of July) - up 6.58%

Brisbane Units - July 09 increase - up 3.26%

Based on Australia’s largest property database, owned by which includes roughly 145,000 sales for the first seven months of 2009, Australia’s housing recovery has continued in the month of July with solid across-the-board capital gains.

According to the market respected RP Data-Rismark Home Value Index, Australian home values rose by +0.9 percent in the month of July 2009. This brings total capital growth in the first seven months of 2009 to 5.9 percent.

Underpinned by historically low mortgage rates and only small rises in unemployment, Australian home values have now risen 1.8 percent past their February 2008 peak. national research director Tim Lawless, said, “Not only has Australia’s residential property market outperformed the other major western markets, it has also provided superior returns compared to shares, commercial property, superannuation, hedge funds and private equities. Australia’s residential market has been further supported by low mortgage default rates, at just 0.6 percent, compared with 5 percent in the US and 3 percent in the UK.”

“Every mainland capital city has experienced solid growth during the first seven months of the year. “ Mr Lawless said.

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