Capital city house prices fell just 0.2% in September to $450,000, their best result in seven months, suggesting the housing market may have turned the corner, according to the latest RP Data-Rismark Hedonic Home Value Index.
This was the smallest decline since February 2011 and reversed a trend of accelerating capital losses since the end of March 2011. Over the first nine months of 2011, capital city home values have now declined by 3.6% while over the 12 months to September 30, capital city home values were off by 3.4%.
Despite the fall in values, houses have delivered total returns of 0.7% for the year to date and 0.9% over the last 12 months.
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There is expected decrease in property prices next quarter. is it true?
ReplyDeleteThe next quarter with Christmas and the new will as usual see a decrease in demand but with the interest cut and the unstability in the stock market I am confident prices in Australia will hold firm.
ReplyDeleteI would have to agree with peter, with the stock market in it's current state I think the property market will hold steady.
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