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🗞️Perth, Adelaide, Brisbane Post Strongest Home Value Gains in May

🗞️Perth, Adelaide, Brisbane Post Strongest Home Value Gains in May

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Brisbane overtakes Canberra as the second most expensive capital city, according to CoreLogic's Home Value Index, which increased 0.8% in May for the 16th consecutive month and the highest monthly gain since October of last year. Sydney is showing signs of recovery.

The Background :

The CoreLogic Hedonic Home Value Index (HVI) is a hedonic regression methodology that uses recent sales data and property attributes to calculate the market value of residential properties. The index separates sales values from market fluctuations and determines the value of properties based on their known features even without recent sales prices. This feature enables precise monitoring of changes in market values over time.

The Revelation :

The mid-sized capitals kept up their lead in terms of growth rate, with property values in Perth increasing by 2.0%, Adelaide by 1.8%, and Brisbane by 1.4% in May. This means that each city's median home value is rising by over $12,000 monthly.

In comparison, property values in other major cities had varying trends, with Sydney's values increasing by 0.6%, Hobart declining by -0.5%, and Darwin falling by -0.3% monthly.

CoreLogic research director Tim Lawless noted that the number of properties for sale in Perth and Adelaide is over -40% below the five-year average, whereas Brisbane listings are -34% below average.

Our Data and Sources :

RP Data Pty Ltd, trading as CoreLogic Asia Pacific (ABN 67 087 759 171) ("CoreLogic"), used several external sources to compile this publication. CoreLogic does not guarantee the accuracy or completeness of this publication. CoreLogic is not liable, to the maximum extent permitted by law, for any losses or damages that subscribers or any individual or business entity may incur from accessing or using all or part of this publication, for any reason. CoreLogic's only responsibility is to return the money that was paid for the information.

What role does this play?

Brisbane's rising home values are significant because they are a reflection of wider economic trends, have an effect on multiple stakeholders, and have an impact on policy decisions. Making educated decisions in the real estate market requires staying up-to-date on these developments, whether you're a prospective buyer, investor, or industry professional. Comprehending the elements that influence Brisbane's property values can assist you in managing possible hazards and advantages within the real estate industry.

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