RP Data: Recovery well and truly underway

by Caroline Dann03 Oct 2012

Capital city dwelling values rose 1.4% across the country, according to RP Data Rismark's September Home Value Index.

It was the largest month-on-month growth since March 2010, leading research director Tim Lawless to claim a recovery is "underway."
Adelaide took the lead with a 2.4% increase, followed by Perth at 1.6%, Sydney at 1.5%, Melbourne at 1.4% and Brisbane at 1.1%.
Over the quarter, however, Darwin values climbed 3.9%, making it the strongest capital city in Australia for Q3.
The northern city also had the highest rental yields for both detached and unit dwellings.
Hobart continues to falter, showing another month of declining property values. It is now Australia's weakest performing capital, according to RP Data.
RP Data’s research director Tim Lawless said the increasing values should have encouraged the RBA to sit tight, however it dropped the cash rate yesterday to 3.25%.
Ben Skilbeck, CEO of Rismark, also waded into the fixed rate debate by claiming borrowers could now take advantage of record-low rates.
“Borrowers can currently avail themselves of three-year fixed rates as low as 5.39% , which is below the three-year fixed rate lows recorded by the RBA’s indicator lending rates of 5.6% during the GFC," he said.