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Property values bloomed across October

  • November 04 2019
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Invest

Property values bloomed across October

By Grace Ormsby
November 04 2019

Property values are well and truly on the rebound, with October figures highlighting a fourth consecutive month of growth Australia-wide.

Property values bloomed

Property values bloomed across October

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  • November 04 2019
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Property values are well and truly on the rebound, with October figures highlighting a fourth consecutive month of growth Australia-wide.

Property values bloomed

In good news for owners and investors, the CoreLogic Home Value Index results for October confirmed a 1.2 per cent rise in national dwelling values over the month.

While still lower than their previous peak, the positive October result takes national dwelling values 2.9 per cent off their June 2019 floor, according to the research group.

According to analysis, the October result was the largest month-on-month gain in the national index since May 2015 and follows the 8.4 per cent decline noted between October 2017 and June 2019.

CoreLogic indicated that home values are at a similar level now to where they were three years ago, still 5.7 per cent below peak.

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Its monthly round-up said that while the strongest growth conditions continue to be centered in Melbourne and Sydney, dwelling values trended higher across most capital cities over October.

It credited lower mortgage rates and improved credit availability as spurring on buyer demand.

Perth was the only city to see a value decline over the month, which, based on the rolling three-month change, saw values fall by 1.7 per cent.

Property values bloomed across October
Property values bloomed
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About the author

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Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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