Property prices rise almost 10% in 2013

Property values have increased by 9.8% during 2013 after an end of year surge, advancing the growth rate to its highest level in 4 years taking the national median dwelling value to $540,000. (RPdata)

RPdata reports the national housing market has shown significant improvement throughout last year with the bulk of the growth flowing through in the past six months leading up to December.

This increase in property values appears to be a direct relationship to the record low interest rates slashed by the reserve bank throughout 2013.


“Although home values increased by 9.8 per cent in 2013, the growth follows a 3.8 per cent annual fall in values in 2011 and a further 0.4 per cent annual fall in 2012.” According to research analyst Cameron Kusher.

Mr Kusher said it is clear that as we enter 2014, and as values rise across each capital city, the rate of growth will depend on a number of factors.

“The main challenges in 2014 are likely to be the impact of a forecasted higher unemployment rate, affordability constraints for the more price-sensitive sectors of the market (particularly in Sydney, Melbourne and Perth) and whether any regulatory changes will be implemented by APRA and the RBA to cool the near-record high levels of investment activity,” he said.

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