Capital cities Australia wide show rise in values for 2013
Capital cities Australia wide show rise in values for 2013
Capital cities Australia wide have show some great improvement recently including Brisbane or "Brisvegas" as some locals lovingly refer to it, which has had positive movement in house prices with an increase of 1.9 per cent this year with national figures showing the best growth since 2010.
The RP Data-Rismark results revealed values across the combined capital cities were up 2.8 per cent for the quarter, with a 4.7 per cent increase since the national market bottomed out in May, 2012.
RP Data research director Tim Lawless said the most significant recovery had been in Darwin - up 13.9 per cent since that market hit bottom in January last year.
Perth also had significant gains, with values increasing 9.4 per cent since their market trough in November, 2011.
All indicators continued to suggest the market recovery would continue, and RP Data's Mortgage Index, which tracked activity across the RP Data mortgage platforms, reached levels not seen since August 2009.
This suggested housing finance commitments were likely to show a decent lift when the Australian Bureau of Statistics published its February and March data later this year.
Across the market, houses in the middle price ranges continued to show the healthiest market fundamentals, increasing 1.6 per cent during the year to February. In comparison, affordable houses dropped 0.9 per cent while the top end fell 0.6 per cent.
Out of all of the Capital cities Australia wide Brisbane and it's surrounding area being the corridors to the Sunshine Coast and the Gold Coast definitely have the greatest opportunities for growth and buyer confidence is becoming stronger as the year progresses.
Other major regional cities are also showing excellent recovery from the GFC and there is no doubt that the Queensland mining industry which is expanding rapidly is responsible for this incredible growth.
