t seems like being located in a capital could boost your home value. At least, that’s what CoreLogic’s most recent data shows for Australian provinces. Despite many areas in Australia experiencing falling home prices, it seems that the country’s capitals are showing the most potential for growth.
Sydney, Melbourne, Adelaide and Perth were all able to avoid slipping further along with the rest of the country. Brisbane even saw an increase of 0.1 percent according to CoreLogic’s Property Market Indicator data. This also corresponding with a shorter time on market for homes across these markets, while units still have a slightly longer time on market. This shows that the location advantages of being located in a capital may positively impact your home’s value.
- Last week the monthly index for Australia fell by 0.3%, but it’s still up by 2.0% for the year.
- Hobart saw the lowest numbers for houses at 3.9% and Canberra saw the lowest for units, also at 3.9%.
- Darwin saw the highest numbers for houses at 9.0% and Perth saw the lowest for units 8.1%.
Home values recovered and held steady across all but one capital city last week, and in that one made some small gains, according to the latest CoreLogic data.
Combined, the daily home value index remained level in the week ending 18 February.
Sydney, Melbourne, Adelaide and Perth all held steady last week, and Brisbane rose by a modest 0.1 per cent, CoreLogic’s Property Market Indicator data showed.
The monthly index fell by 0.3 per cent for the week. It rose by 2.0 per cent for the year. Melbourne remained the prime mover at 6.9 per cent, with Brisbane and Adelaide contributing 1.9 per cent and 2.2 per cent, respectively.
Listings recovered in some capital cities, led by Sydney and Perth at 6.2 per cent and 4.4 per cent, respectively. Hobart and Canberra continued to take heavy fire at -21.6 per cent and -17.6 per cent, respectively.
View the original article at Real Estate Business