Latest NewsImpressive Increase in Home ValuesMonday, 05 September 2016

A 4.5 per cent increase in Australian home values in the first half of 2009 heralds good news for the property market with improvements being recorded across all market price segments according to the combined RP Data-Rismark National Home Value Indices.

RP Data national research director Tim Lawless confirmed that prices improved across all price segments over the last six months.

Rismark International managing director Christopher Joye said "Outside of cash, Australian residential property has proven to be a safer store of wealth for households than shares or commercial property."

Mr Lawless said "The recovering residential environment comes as consumer and business confidence records large improvements. Housing finance approvals are trending upwards for both owner occupiers and investors, and auction clearances are averaging more than 70 percent across the nation."

"Growth across all markets is being recorded over a broad base, not just in first home buyers markets as commentators have suggested," he said.

Based on the first half year results, home values have risen in the top 20 per cent of most expensive suburbs, the middle 60 per cent of suburbs, and the cheapest 20 per cent of suburbs ranked by price.

Mr Lawless said the fact that prices are improving across all segments of the market demonstrates that improved affordability and attractive buying conditions are the key market drivers rather than the boost to the First Home Buyers Grant.

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