Prices Grow in All Market Sectors

Australia’s combined capital city home values rose 6.4% over the past 12 months, according to CoreLogic RP Data research analyst Cameron Kusher.

Kusher says the most affordable suburbs recorded annual value growth of 6.6% compared to a 6.4% rise across the middle market and a 7.0% rise in the most expensive suburbs.  But the cheaper areas led price growth in the March Quarter.

“Across the most affordable suburbs, we’ve seen values move 1.8% higher over the March Quarter followed by the most expensive suburbs at 1.7%, and the middle market suburbs by 1.6%,” he says.

In Sydney, home values across the city rose 7.4% over the past year, with the most affordable suburbs rising 8.0%, the middle market 6.6% and the most expensive suburbs 8.8%.

Melbourne recorded home value growth of 9.8% over the past year, with the most affordable suburbs up 9.7%. the middle market 10.5% and the most expensive suburbs 10%.

In Brisbane, home values rose 4.5% over the past year with the most expensive suburbs up 4.6% compared to a 5.1% rise across the middle market and a 5.7% rise in the most affordable suburbs.

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