Home values rally in May after subsiding in April | May home value index results

The May property results are in, showing a national increase of 2.2%, following 1.8% growth in April and the national growth rate has now cracked 10% over the last 12 months. The May pick-up could be due to returning investors who generally have deeper pockets, as first-time buyer numbers take a dip. 

Key take outs: 

  1. Sydney keeps flying with 3% growth for the month and 9.3% in the last quarter alone.
  2. All capitals post increases of more than 10% over the last year except Perth & Melbourne who will get there soon.
  3. Combined capitals continue to make up ground on regionals over May and the quarter, although the result for regionals is still very strong.
  4. Hobart is the star performer with 3.2% growth after 1% in April, and a whopping 16% over the last year. There is no abatement to Hobart’s rise in property values. Hobart’s median is now incredibly the same as Brisbane, and greater than Adelaide, Perth & Darwin.
  5. Darwin continues its recovery with 2.7% growth and the highest annual growth of all capitals at 20.3%. Keep in mind the current median of $478K is still well below its 2014 median of $579K. 
  6. Melbourne, Adelaide & Canberra continue with very strong results just under 2% growth and all capitals return results above 1% for the 2nd time this year.

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