Latest NewsAbs Confirms Housing RecoveryMonday, 29 August 2016

Well, I don’t mind saying it –  we told you so.

As we anticipated last week following the release of the more comprehensive RP Data-Rismark house price survey, the ABS today finally reported a recovery in the housing market with detached homes purportedly experiencing 4.2 per cent growth in the second quarter of 2009. Furthermore, the first quarter estimate of -2.2 per cent was revised up significantly to -1.5 per cent. These ABS outcomes are exactly what we expected.

In fact, on a monthly basis, the RP Data-Rismark Index indicates that Australian house price growth has been slowing down: the last three months’ index values were April (+0.9 per cent), May (+0.8 per cent) and June (+0.4 per cent).

In line with this, the RP Data-Rismark Hedonic Index is forecasting more modest capital gains in the second half of 2009 as the first time buyers bonus is phased out and fixed home loan rates edge up.

In short, if you've been seriously considering buying a House or Apartment of late, IT'S TIME TO GET YOUR SKATES ON.

Previous Next

Share This Article




Previous Articles