The national property market has started off the new year on a strong footing, as expected, following the seasonal slowdown. While Melbourne and Sydney recorded the lowest growth of the capital cities in January at 0.4%, we expect that to gain pace now that the holiday season is coming to an end. Below are some of the highlights from the results.
- Dwelling values rise across every capital city.
- The national index increased by 0.9% over January, holding steady from 1.0% in December, and on track for annualised growth of in excess of 10%.
- Darwin clocks in 2.3% value increase for the second month in a row, and now sits at value growth of 11.4% over the last 12 months.
- Hobart and Perth started the year strong, with 1.6% growth.
- Canberra continues to outperform, with 1.2% growth in January and the second highest increase in values over the last 12 months of 8.5%.
- Regional areas continue to outperform capital cities, recording 1.6% growth in January V 0.7% in the capital cities, and 7.9% over the past 12 months V 1.7% across the capital cities.