Half of capital cities post September fall: CoreLogic RP Data
Half of Australia's capital cities posted a fall during the September quarter, according to CoreLogic RP Data's Hedonic Home Value Index.
CoreLogic RP Data head of research Tim Lawless said the flat growth rate in Sydney comes after dwelling values increased by 16.7% over the past twelve months and are 49.6% higher over the growth cycle to date.
"The most substantial capital gains over the quarter were achieved in Melbourne where dwelling values were up by 7.4%, followed by Sydney (+4.6%), Brisbane (+1.9%) and Darwin where values were up by 0.4%," he said.
"During the September quarter, half of Australia’s capital cities posted a decline in dwelling values with Hobart down 2.0% over the three months. Adelaide values slipped by 1.6%, Perth by 0.7%, and Canberra values were down 0.4%.
“While half of Australia’s capital cities have seen values rise over the past quarter and year, the other half did not fare as well,” Mr Lawless said.
