Equity far from negative, says RP Data

by Mackenzie McCarty27 Jul 2012

RP Data claims 5.4% of Aussie homes are currently valued at the same or less than when they were purchased.

Its 'value accumulation' report, previously named the 'equity report', found that instances of a decline in value since purchase have reduced from 6.1% of homes at the end of the previous December quarter.

The good news is 41% of homes are worth more than twice what their owners originally purchased them for. A further 44.4% of homes are worth between 10% and 100% more than they were bought for.

Tasmanians have the best value accumulation at the top end, with almost 45% of homes worth twice the purchase price, while South Australia had the least amount of 'doubling' of home values.

Negative equity was the worst in Queensland - at 9.6% - with the least negative equity occuring in the ACT (2.1%).

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