November property value movements have been released today and largely as expected we saw:
- Dwelling values rise across every capital city, as Melbourne joins the market rebound.
- As predicted, Melbourne showed price growth, recording 0.7% for the month or 8.4% annualised. Melbourne is quickly gaining pace and surpassed Sydney and Brisbane, who recorded 0.4% and 0.6% respectively.
- The national index increased by 0.8% over November or 9.6% annualised. This is double the 0.4% growth recorded for October.
- Darwin and Canberra were the strongest performers, increasing by 1.9% or a whopping 22% when annualised.
- Hobart, Perth and Adelaide continue their strong growth trajectory, with values rising by over 1.0% each for the month and between 13% and 16% annualised.
- Regional areas have been the stand outs with a total return of combined capital growth and rental return of over 10.6% over the last 12 months.