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Robust rental growth keeps total returns positive in August
ReplyDeleteStrong rental growth rates combined with slowing dwelling value declines have seen home owners realise positive 'total return' growth in August (+0.2%). While national dwelling values fell by -0.4% (s.a.) (or -0.1% raw) in August, this was the smallest seasonally-adjusted decline since April 2011. Bucking the national trend, home values in Australia's biggest city, Sydney, rose +0.4% in raw terms (0.0% s.a.) in August. Including gross rents, Sydney dwellings have delivered a total 3.4% return in 2011 year-to-date. Nationally, capital city dwellings also produced a +0.2% total return over 2011.
In this August monthly release, RP Data and Rismark have published more detailed data on Australian housing's 'total return'. Like any other asset, property owners receive two forms of return: capital growth plus income (or rents).