Based on around 285,000 sales over the first 10
months of 2011, the RP Data-
Rismark Home Value Index recorded a decline in the
month of October prior to the decision to cut
interest rates in November. In raw and seasonally-adjusted terms, capital city
home values slid 0.2 per cent and 0.5 per cent,
respectively over the month of October. Over the 10 months to end October 2011, Australian
capital city dwelling values have declined by 2.8 per
cent on a raw basis and by 4.0 per cent seasonally-adjusted. RP Data's Tim Lawless noted that premium housing markets are continuing to record the largest falls in
value.
Brisbane Apartments (raw, not seasonably adjusted):
- Median sales price for quarter = $360,000
- Monthly increase in sales price = 1.8%
- Quarterly increase in sales price = 1.1%
- But year on year is down 1.4%; year to date down 1.6%
Seasonably adjusted, year to date down 2.4%
See
Full Release from RP Data
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