Brisbane (0.2%), Sydney (1.6%), Melbourne (1.4%), Hobart (0.5%) and Canberra (0.8%) all recorded house price growth in August. So what?
Growth in five of eight capital city markets has contributed to the first monthly increase in national dwelling values (0.8%) since October 2017 and the largest since April 2017.
It was the second successive month of house price growth in Brisbane, reports Property Update.
Brisbane also saw rental rates increase, along with Adelaide and Hobart.
Data boffin and head of Core Logic RP Data research, Tim Lawless, has gone so far as to call this a national ‘recovery trend’. Does one month of growth equal a trend? We think not. But the declines in previous months were getting smaller, he says.
So put the champagne bottle on ice but don’t pop the cork just yet.
“With the spring selling season now here, this will be a timely test of the market’s depth,” Property Update reports.
“As stock levels continue to rise throughout spring, we will get a much better understanding of the depth of the current recovery.”
Looking to put down new roots this spring? View our current listings for sale or check our listings for rent.
