Property turnaround: Home values on the way up again

Home   /   Property turnaround: Home values on the way up again

first_imgNew data shows national home values only fell slightly in June. Picture: Richard Walker.CoreLogic’s preliminary view on housing market conditions is looking more positive, with some early signs that housing values are stabilising across the largest cities. The property researcher puts the improvement down to lower interest rates and more confidence following the federal election outcome.Home values only slipped 0.2 per cent in the first 26 days of the month across the five major capital cities. Spring selling season will be a test for the housing market. Image: AAP/Glenn Hunt. Aerial images of suburban houses in southwest Brisbane.IT could soon become a sellers’ market with new data suggesting the end to the nation’s property downturn is in sight.With the banking royal commission and uncertainty surrounding the federal election outcome out of the way, property prices are set to make a turnaround.New preliminary data from CoreLogic shows an improvement in the decline of home values during the month of June. Sydney home values are starting to turn around. Image: AAP/Sam Mooy.But he said it could be due to a lag effect.“I think people aren’t as obsessive about property in Brisbane, Adelaide and Perth as they are in Sydney and Melbourne,” Mr Kusher said. “You don’t have as many as investors in Brisbane as you do in Sydney and Melbourne either.” The big test will be in Spring when more properties are traditionally listed for sale.The final results for June will be released on Monday. Melbourne home values actually rose 0.1 per cent in June, according to CoreLogic.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoMelbourne actually posted a subtle rise of 0.1 per cent, while Sydney values edged 0.1 per cent lower. But while there is evidence home values are improving in Sydney and Melbourne, the same cannot be said for Brisbane, which recorded a decline in values of 0.5 per cent in June — the same drop as in May.Adelaide and Perth also recorded value falls.“It looks like confidence has improved in Sydney and Melbourne, but it hasn’t outside of there,” CoreLogic research analyst Cameron Kusher said.last_img

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