RP Data shows property prices flat
The RP Data-Rismark Home Value index has found that property prices across the country finished flat for the month of November.
Perth was the strongest of all capital cities – rising one per cent, while Melbourne was the only one to record a decline, down by 1.0 per cent.
Adelaide and Brisbane also rose by half a per cent, while Sydney increased by 0.1 per cent.
Over the last three months, Darwin recorded growth in its real estate value, up by 3.1 per cent – Perth also grew by three per cent and Brisbane while enjoyed growth of 0.8 per cent over the quarter.
RP Data senior research analyst Cameron Kusher said that these are mostly positive figures in the context of recent trends.
He commented: "Capital city home values remain 5.6 per cent lower than their historic highs of November 2010, but (are) up 2 per cent from their low of late May 2012."
Melbourne, Hobart and Canberra saw a decline for the three months to November, with values down by 0.7 per cent, 4.5 per cent and 0.7 per cent respectively.
These figures are significant considering that Melbourne had quite strong growth in 2009 and 2010.