The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterThu 02 May 13

Australian home prices fall in most capital cities

1

Home prices in Australian capital cities have eased after strong gains during the first few months of the year.

Capital city home prices fell 0.5 per cent in April, following growth of 2.8 per cent over the first quarter this year, according to RP Data - Rismark's Home Value Index.

According to RP Data, this is the first fall in capital city home prices since December, but dwelling values were still 4.2 per cent higher than when prices bottomed last May after two years of weakness.

However, Tim Lawless, RP Data’s Research Director, says the fall in prices is unsurprising due to strong home price growth that is typically experienced in the first few months.

"When viewed in line with other metrics such as auction clearance rates, private treaty indicators and some improvement in housing finance demand, it is likely that the negative April result will be a blip along the path to recovery," he noted in the report.

"We weren’t expecting that the high rate of growth evidenced over the first three months of the year would be sustained into April. A more measured pace of growth is a much more realistic outcome for the Australian housing market, especially considering that the first quarter is typically the strongest for value growth."

Adelaide was the best performing capital with a growth of 2.8 per cent on home prices. However, RP Data warns that the size of this gain is not a sign of a durable surge in prices; rather it likely reflects instability in a relatively small market.

Home prices were also up in Darwin, with a 0.2 per cent rise.

The steepest monthly declines were a 3.1 per cent fall in Hobart and a 2.5 per cent slide in Perth.

Prices were more modestly down in Brisbane (0.7 per cent), Canberra (0.6 per cent), Melbourne (0.5 per cent) and Sydney (0.4 per cent).

Prices outside the capitals edged 0.1 per cent higher for the month and were also up by that amount over the past year.

How home prices moved in April

  • Adelaide up 2.8 per cent

  • Darwin up 0.2 per cent

  • Sydney down 0.4 per cent

  • Melbourne down 0.5 per cent

  • Canberra down 0.6 per cent

  • Brisbane down 0.7 per cent

  • Perth down 2.5 per cent

  • Hobart down 3.1 per cent


 

 

OtherAustraliado not usePerthMelbourneHobartDarwinCanberraBrisbaneAdelaideOther
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
View All >
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
Policy framework is in place, land is available, but there’s one hurdle to clear before the sector can works its magic..…
LATEST
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
2 Min
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
2 Min
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/australian-home-prices-fall-in-most-capital-cities