Australian capital city home values continue to rise with a 1.4% jump in September.
RP Data Rismark Home Value Index results marked the fourth consecutive
month-on-month rise in home values, further cementing the fact that a
housing market recovery is underway.
dwelling values rose by 1.4 per cent over the month of September, the
largest month-on-month rise recorded since March 2010. Adelaide led the
way with the strongest results where values were
up 2.4 per cent, followed by Perth at 1.6 per cent over the month,
Sydney at 1.5 per cent, Melbourne at 1.4 per cent and Brisbane values
up 1.1 per cent.
Highlights over the quarter
Best performing capital city: Darwin
Weakest performing capital city: Hobart
Highest rental yields: Darwin houses with gross rental yield of 6% and Darwin Units at 6%
Lowest rental yields: Melbourne houses with gross rental yields of 3.6% and
Melbourne units at 4.3%
Most expensive city:
Sydney with a median dwelling price of $522,000
However, Brisbane apartments did not do so well.
Brisbane apartment prices:
September 2012 - down 0.8%
Quarter - down 0.8%
Year to Date - down 2.7
Year on Year - down 4.5%
Median price based on settled sales of Brisbane apartments over the quarter - $385,000.