CoreLogic’s Home Value Index continued to increase in September, clocking the eight consecutive month of growth.
This latest gain brings the median dwelling value up 0.8% to $740,668.
Adelaide reported the biggest monthly gain over the month at 1.7%, followed by Brisbane and Perth where prices increased 1.3%.
CoreLogic research director Tim Lawless said the performance of the housing market in each city reflects the underlying supply dynamic.
“The three capitals recording the highest capital gain each have advertised supply levels that are around 40% below their previous five-year average,” he said.
“Advertised supply levels across Hobart, where values are still trending lower, have been holding at above average levels since June last year and were almost 40% above its five-year average.”
After hitting a low point in January, the national index has rebounded by 6.6%
Mr Lawless said if the current growth rate continues, the national HVI is expected to reach a new nominal high by the end of November.
“We have already seen dwelling values reach new record highs in Perth and Adelaide; Brisbane looks set to reach a new record high in October, with home values currently only 0.6% below their previous peak,” he said.
“Hobart and Canberra have the furthest to go before staging a nominal recovery, with dwelling values remaining 12.4% and 7.0% below their cyclical highs from last year.”
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.29% p.a. | 5.33% p.a. | $2,773 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.19% p.a. | 5.10% p.a. | $2,742 | Principal & Interest | Variable | $0 | $0 | 80% |
| Disclosure | |||||||||||
5.39% p.a. | 5.43% p.a. | $2,805 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure |
-
Photo by Andrii Yalanskyi on Canva.
Collections: Mortgage News
Share