The release today of the monthly CoreLogic RP Data Rent Review results for February confirm that over the coming months rental rates could begin to fall on an annual basis due to additional new rental supply entering the market.
Dwelling values across Australia’s capital cities were 0.9% higher in January driven partially by a rebound in Sydney and Melbourne.
The hottest housing markets in the nation, Sydney and Melbourne, have continued to see an easing in the rate of capital gain over the month of October, however values continued to show a modest rise of 0.3 per cent, and 0.6 per cent respectively across Australia’s two largest capital cities over the month.
The capital city housing market performance was diverse over the first month of Spring, with Sydney value growth flattening and dwelling values down across three of the capital cities according to the September CoreLogic RP Data Home Value Index results out today.
Melbourne and Sydney continued to set a rapid pace for capital gains in July, pushing the CoreLogic RP Data Home Value Index 2.8% higher over the month and 11.1% higher over the past year.