Home values flat in December
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BN
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29/01/2010 12:00:00 AM
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Australian home values recorded a 0.3% fall in December 2009 according to the latest index supplied by RP Data and Rismark.
This stagnant end of year performance was attributed to "the seasonal effect of the summer slowdown combined with rising interest rates and fading first time buyers"
December aside, all capital cities recorded strong capital gains during 2009 with the most spectacular results seen in the Darwin and Melbourne markets where home values were up 16.6% and 15.6% respectively.
The weakest market during the year was Adelaide with values rising 6.2%. Residential property in Brisbane achieved a slightly better outcome with 7.3% growth.
The Perth property market recovered with values increasing by 7.1% after cumulative losses of 7.9% since September 2007.
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