House price growth has peaked says RP Data-Rismark
Nineteen months of house price growth slowed to a crawl in November with capital city values increasing by just 0.1%. For the past six months monthly growth had been more than 1% (except August at 0.5%). RP Data reports that each of the last two...
Nineteen months of house price growth slowed to a crawl in November with capital city values increasing by just 0.1%. For the past six months monthly growth had been more than 1% (except August at 0.5%). RP Data reports that each of the last two growth cycles (2007 and 2009) each peaked at around 18 months. This cycle has been going for 19 months. The November city by city movements were:
Melbourne -2.1%
Brisbane 0%
Sydney 0.9%
Adelaide 1.2%
Darwin 2.8%
Perth 2.9%
Overall this year houses have increased by 8.4% and units by 8.2% nationally, apparently driven mainly by investors, especially self managed super funds.
