Australian National Home Values Rise Nearly 10 Percent
National home values in Australia rose 0.3% in April, marking the weakest monthly gain in 15 months. Data from CoreLogic indicates that market momentum is easing. Sydney and Melbourne both saw values fall by 0.6% due to high interest rates and stretched affordability. Growth is slowing in Perth, Darwin, Brisbane, and Adelaide despite continued gains. Economists report that buyers are becoming more cautious. Markets in Perth, Brisbane, and Adelaide continue to show monthly housing value increases of more than 1 percent. In Perth, this monthly growth equates to more than $20,000 added to the median value. Current market conditions are reported to be less favorable than those in the United States. Australia's national home value index has risen nearly 10 percent over the past year, according to housing economist Tim Lawless.
Topics
Developing
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Sources · 7 independent
“National home values rose 0.3% in April, the weakest monthly gain in 15 months. Prices are still up 9.8% over the year, with the median home value now above $940,000.”
“9.8% over the year, with the median home value now above $940,000. But Sydney and Melbourne both fell 0.6 per cent”
“Over the year we've seen nearly a hundred million people. 10% rise in our national home value index. Markets like Perth, Brisbane, Adelaide are still seeing housing values rising at more than 1% month on month”
“Over the year we've seen nearly a 10% rise in our national home value index. Markets like Perth, Brisbane, Adelaide are still seeing housing values rising at more than 1% month on month.”
“than $20,000 added to the median value just in one month alone. home has decreased to its slowest pace in more than a year, driven by falls in Sydney and Melbourne.”
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