08 8382 3773   |   christiesbeach@saprofessionals.com.au
Register for Alerts   |   Login to Alerts

Christies Beach RLA 266739

71 Beach Road Christies Beach

08 8382 3773

08 8382 7733

christiesbeach@saprofessionals.com.au

Contact us

Visit

Visit

Visit

Visit

Capital city values fall in May

11 Jun 2014 Christies Beach 0 Comment

6a0120a6524fe3970b0134881a61d9970c-800wi blur

As the Reserve Bank of Australia lifted first home buyer spirits across the country today by announcing interest rates will stay at the current record lows, RP Data-Rismark reports that dwelling values across Australia’s capital cities dropped by 1.9% in May.

It’s the first time in 12 months that the capital city values have fallen.

The Professionals CEO, Ted Piteo, attributed part of this fall to seasonal elements, with late autumn/early winter often signalling a softer market. However, after a strong period of growth, particularly in Australia’s largest capitals of Sydney and Melbourne, the industry is prepared for more moderate growth for the remainder of 2014.

RP Data said that auction clearance levels in capital cities had been weaker since late February when they hit 76%. The Real Estate Institute of South Australia reported an auction clearance rate of 67% in the week ending May 25.

The best performing capital city for May was Darwin with growth of 5.5% while the weakest was Melbourne, down 1.9%.

Adelaide was down 1.8% for the month with a median house price currently sitting at $395,000. Over the year, Adelaide has shown 4.3% median house price growth.

 

Follow the Christies Beach Real Estate  blog for more interesting articles.

<<<Previous article

Next article>>>

 

 

Google +

Professionals Christies Beach Real Estate Agency

Copyright © 2017 Professionals Real Estate  |  Privacy Policy & Disclaimer  |  Made in Melbourne by iProperty