Brisbane edges Sydney, Melbourne in latest home value growth results

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:47Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:47 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenMonthly Core Index : April00:47Brisbane saw dwelling values rise 0.6 per cent in April, according to CoreLogic.BRISBANE has pulled a bigger monthly rise in capital gains than the two biggest capitals as more signs emerged of a slowdown in Sydney and Melbourne.Combined capital city dwelling values rose just 0.1 per cent in April, according to the latest CoreLogic Hedonic Home Value Index – the “slowest month-on-month growth conditions since December 2015”.Brisbane managed a rise of 0.6 per cent over the month, compared to 0.5 per cent out of Melbourne while Sydney flatlined. Sydney dwelling values flatlined in April but analysts expect more life out of there. Picture: Destination NSWBrisbane’s growth was strongest in areas within 20km radius of the city and “weaker in outer, more affordable areas like Logan and Ipswich even though they are much cheaper”, according to CoreLogic research head Tim Lawless.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours ago“The strongest demand is for detached houses with good access to the city. There has been a big split in the performance of units and houses. House prices have been increasing in some inner areas, but unit prices have been flat or falling.”The last time Sydney was this low was December 2015 when dwelling values fell 1.2 per cent, though not many analysts were keen to write off the past five years of Sydney’s meteoric rise (75.1 per cent) just yet.Mr Lawless was loath to call time on five years of capital growth in the two biggest capitals, preferring to wait and see if the monthly figures became a habit. CoreLogic research head Tim Lawless refuses to call time on Sydney’s meteoric capital gains just yet.“We need to be cautious in calling a peak in the market after only one month of soft results,” he said. “April, in particular, coincides with seasonal factors including Easter, school holidays and ANZAC DAY long weekend.”“The softer results should also be viewed against a backdrop of an ever evolving regulatory landscape which is firmly aimed at slowing investment and interest-only mortgage lending.”He said the highest cost of debt and stricter lending and servicing criteria had “likely dented investment demand over recent months”.“In a city like Sydney, where more than 50 per cent of new mortgage demand has been from investors, a tighter lending environment for investment purposes has the potential to impact housing demand more than other cities.”Even limping Sydney continues to sit head and shoulders above most capitals, with the three months to April seeing it pull a 4 per cent change in dwelling values, up 4 per cent, compared to Melbourne on 3.9 per cent and Brisbane on 0.5 per cent. Only Hobart had higher rise on 5.1 per cent.– With Aidan Devinelast_img

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