Five of Australia's nine capital cities have recorded growth in the month to the end of February 2013, according to RP Data and Rismark home value index results.
Following a 1.2% rise in January 2013, capital city dwelling values increased by 0.3% over the month.
Melbourne led the charge with 1.5% growth while Brisbane recorded a drop of 1.1% after registering a 2.0% increase in January.
RP Data research director Tim Lawless said, “The February results are not as broad-based as what was recorded in January with half of Australia’s capital cities recording a lift in dwelling values over the month, while the other half recorded a drop. The trend for most cities remains positive however, with six out of the eight capital cities showing growth over the past quarter and five of the eight capitals over the past twelve months.”
