•  Email:[email protected]
  •  Login
  •  Register
Navigation Just another WordPress site Just another WordPress site
CALL US NOW
(+01)-793-7938
  • Home
    • Home Main
    • Home Property Listing
    • Home Resident Portal
    • Home Real Estate
    • Home Map Vertical
    • Home Map Horizontal
    • Advanced Amenities Search
  • Properties
    • List
      • With Sidebar
      • No Sidebar
    • Grid
      • With Sidebar
      • No Sidebar
    • Types
      • Single Family Home
      • Apartment
      • Co-op
      • Condo
    • Status
      • Sale
      • Rent
      • Open house
      • Sold
    • Property details
    • Map Property
  • Features
    • Blog
      • Blog
      • Default Blog Left Sidebar
      • Default Blog Right Sidebar
    • Shop
      • Product Category
      • Single product
      • Checkout
      • Cart
    • Shortcodes
      • VC Shortcodes
      • Citilights Shortcode
      • VC Pricing Table
  • Agents
    • Agents Listing
    • Agent: Stacy Barron
  • Submit
    • My Profile
    • My Properties
    • Submit Property
    • My Favorites
  • IDX
  • Contact
    • Contact 1

National housing values fall fastest since 2012

Posted in Blog, Uncategorized on August 6, 2018 by admin

Perth is leading a national downturn, with residential property values across Australia falling by the heftiest rate since 2012.

The CoreLogic Hedonic Home Value Index, released on 1 August, shows dwelling values across Australia slipped 0.6% in July to 1.6% lower over the past 12 months – the largest annual fall in five years.

In Perth, house values dropped 0.8% in July, resulting in a 2.3% downswing in the past 12 months.

The median property price in Perth is now $457,274.

CoreLogic head of research Tim Lawless says long running declines in Perth and Darwin, along with accelerated decline in Sydney and Melbourne, fuelled the national slump.

23/35 Mount Street West Perth

In Perth, house values dropped 0.8% in July, resulting in a 2.3% downswing in the past 12 months. Picture: realestate.com.au/buy

Western Australia also led the country’s property value decreases in regional areas in the three months to July. While WA’s country dwelling values dropped by 3.5%, the national position was also impacted by falls in regional Queensland of 0.6% and country New South Wales of 0.2%.

The Hobart market held onto the mantle as the best-performing capital city, despite a slowing of the annual rate of growth to 11.5%, the slowest rate since February 2017.

“We can’t see any factors that may halt or reverse the housing markets trajectory of subtle declines over the second half of 2018,” Lawless says.

“The availability of housing credit has been a significant factor contributing to this slowdown, however there are a variety of hurdles contributing to slower conditions.”

Lawless says despite the falls, low interest rates would prevent a market collapse.

Perth city

Low interest rates would prevent a market collapse. Picture: Getty

“While dampening factors are at play, consistently low mortgage rates will continue to provide a support buffer which should help to keep a floor under housing demand,” he says.

“Owner occupiers continue to enjoy mortgage rates at the lowest level since the 1960s, and, although investors are paying around a 60 basis point premium on their home loans, interest rates remain low for this segment of the market as well.”

Last month, REA Chief Economist Nerida Conisbee warned that while the Perth market had picked up, it would be a slow recovery.

About Author

admin

Jane Doe is the award winning founder of the International Institute of Home Staging (IIHS) and SILK Home Staging & Styling. She is also the author of a bestselling book, 'Ignite Your Property Mojo'.

Recent Posts

  • 8 Things You Need to Do When Buying A Home
  • How to Modernize a Split-Level Home
  • Prepare for the Ultimate Staycation

Recent Comments

  • admin on Which Trend For This Fall-Winter?
  • admin on Which Trend For This Fall-Winter?
  • admin on Which Trend For This Fall-Winter?

Tags

Alignment Audio Blog Captions Child Category 03 Dining Fashion Game Parent Category Quote Uncategorized Video

Calendar

May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Oct    

About Us

CitiLights brings wide range of choice, steadily updated property list and market trend for you to figure out your right decision.

You are now at right place for your real estate research.

Featured Property

  • For Open house

    Fresno,CA93722

  • For Rent

    New York Upper West Side

Useful links

  • Terms of Use
  • Privacy Policy
  • Contact Support
  • Knowledgebase
  • Careers
  • FAQs

Contact info

 376 Baker Street, New York
 (+01)-486-2857
 [email protected]
© CitiLights. All Rights Reserved.
Powered by Wordpress
CitiLights

Login

You must be logged in to add listings to favorites.

Forgot Password?
Don't have an account? Register here!
Already a member? Sign in!
Forgot your password ? Thank you enter your username or email address. You will receive a link to create a new password
Already a member? Sign in!