Property values make ground in 2013
IHome owners and property investors have reason to cheer as recently released figures from RP Data display healthy gains in property values across Australia throughout 2013.
Dwelling values made a 9.8% increase across Australia’s capital city markets for the full calendar year. It was a steady accumulation in values, with the final quarter of 2013 accounting for a 2.8% gain in values.
According to RP Data, the full year represented the strongest 12 month performance since August 2010, which represented slightly more than a 5% increase.
In encouraging news for owners and investors, each capital city housing market recorded positive home value growth in 2013. However, the cities which recorded the highest capital growth were Sydney (14.5%), Perth (9.9%) Melbourne (8.5%) and Brisbane (5.1%).
Sydney’s house market performed strongly, recording a 15.2% increase in values, with the unit market recording an 11.6% increase.
Within the Melbourne market, price growth was more equitable between houses (8.5% increase) and units (8.7%).
In Perth, growth in annual house values (10.2%) was stronger than units (6.3%).