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PROPERTY values increased around the nation last month – except in Adelaide and Darwin

3rd July 2012

The RP Data-Rismark Home Value Index, released today, shows home values rose in the traditionally weak month of June. Adelaide was the weakest-performing capital city, dropping 1.1 per cent. However, Adelaide and Canberra were the only capital cities to improve in value over the quarter, with a 1.3 per cent increase. The city’s median price over the quarter was $370,000. Results also show the weakness in Adelaide and Darwin started levelling off in the last fortnight, RP Data research director Tim Lawless said. ”RP Data-Rismark’s daily index shows that dwelling values in both these capital cities started flat-lining or rising again over the second half of June,” Mr Lawless said. Though growth around the nation is encouraging, Mr Lawless said Australian home values were down. ”So far this year, capital city dwelling values have simultaneously risen over three months and fallen over three months,” he said. ”The wash-up is that values have fallen more than they have risen, with the market down by 1.2 per cent over the first six months of 2012. ”Regardless, while discounted variable mortgage rates are as low as 5.6 per cent, Australian households are understandably cautious about the economy given the global uncertainty.”

source: The Advertiser -Adelaide Now

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