The CoreLogic October Home Value Index results released on Tuesday show that capital city dwelling values have reached new record highs for the month, with values rising across six of the eight capitals.
According to CoreLogic research director Tim Lawless, capital gains remained positive across Australia’s combined capital city housing markets, however, the pace of growth has reduced when compared with previous months, with October dwelling values rising by 0.5%, compared with a 1.0% lift in September and 1.1% rise in August.
The latest monthly housing market data takes the quarterly change in capital city dwelling values to 2.7% and 7.5% higher over the past twelve months.
| Highlights over the three months to October 2016 | |
|---|---|
| Best performing capital city: | Canberra +5.6% |
| Weakest performing capital city: | Hobart -2.8% |
| Highest rental yields: | Hobart houses with gross rental yield of 5.3% and Hobart Units at 5.6% |
| Lowest rental yields: | Melbourne and Sydney houses with gross rental yield of 2.8% and Sydney units at 3.8% |
| Most expensive city: | Sydney with a median dwelling price of $800,000 |
| Most affordable city: | Hobart with a median dwelling price of $343,500 |
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