RP Data December Update

Advertisement

From RPData-Rismark comes the December and end of year results for the Australian property market.

According to today’s release of the RP Data-Rismark Home Value Index results for December 2013, capital city home values moved 1.4 per cent higher over the last month of the year.

Over the fourth quarter of the year, capital city home values rose by 2.8 per cent following on from a 2.8 per cent increase over the first quarter, by 0.2 per cent increase over the second quarter and by 3.7 per cent increase over the third quarter.

Across the combined capital cities, home values increased by 9.8 per cent over the 2013 calendar year. According to RP Data’s Cameron Kusher, this was the fastest annual rate of value growth since August 2010, and the largest calendar year increase in values since 2009 when home values were up by 13.7 per cent.

And just look at Sydney!

RPData1

No bubble though.

Advertisement

However, Cameron Kusher suggests that 2014 will be a little different.

Mr Kusher said that it is clear that as the market enters 2014 and as values rise across each capital city, the rate of growth will vary greatly. He said that the main challenges in 2014 are likely to be the impact of a forecasted higher unemployment rate, affordability constraints for the more price sensitive sectors of the market (particularly in Sydney, Melbourne and Perth) and whether any regulatory changes will be implemented by APRA and the RBA to cool the near-record high levels of investment activity.

Full report below.

RP Data Rismark Home Value Index 2 January 2014MediaRelease