🗞️Perth, Adelaide, Brisbane Post Strongest Home Value Gains in May
Today’s email is brought to you by Empower your podcasting vision with a suite of creative solutions at your fingertips.
Brisbane overtakes Canberra as the second most expensive capital city, according to CoreLogic's Home Value Index, which increased 0.8% in May for the 16th consecutive month and the highest monthly gain since October of last year. Sydney is showing signs of recovery.
The Background :
The CoreLogic Hedonic Home Value Index (HVI) is a hedonic regression methodology that uses recent sales data and property attributes to calculate the market value of residential properties. The index separates sales values from market fluctuations and determines the value of properties based on their known features even without recent sales prices. This feature enables precise monitoring of changes in market values over time.
The Revelation :
The mid-sized capitals kept up their lead in terms of growth rate, with property values in Perth increasing by 2.0%, Adelaide by 1.8%, and Brisbane by 1.4% in May. This means that each city's median home value is rising by over $12,000 monthly.
In comparison, property values in other major cities had varying trends, with Sydney's values increasing by 0.6%, Hobart declining by -0.5%, and Darwin falling by -0.3% monthly.
CoreLogic research director Tim Lawless noted that the number of properties for sale in Perth and Adelaide is over -40% below the five-year average, whereas Brisbane listings are -34% below average.
Our Data and Sources :
RP Data Pty Ltd, trading as CoreLogic Asia Pacific (ABN 67 087 759 171) ("CoreLogic"), used several external sources to compile this publication. CoreLogic does not guarantee the accuracy or completeness of this publication. CoreLogic is not liable, to the maximum extent permitted by law, for any losses or damages that subscribers or any individual or business entity may incur from accessing or using all or part of this publication, for any reason. CoreLogic's only responsibility is to return the money that was paid for the information.
What role does this play?
Brisbane's rising home values are significant because they are a reflection of wider economic trends, have an effect on multiple stakeholders, and have an impact on policy decisions. Making educated decisions in the real estate market requires staying up-to-date on these developments, whether you're a prospective buyer, investor, or industry professional. Comprehending the elements that influence Brisbane's property values can assist you in managing possible hazards and advantages within the real estate industry.
Nothing is free like a free press. Give now to help sustain independent journalism in your community.
It's evident from recent events that there has never been a better moment to support local news. Donate now to help sustain independent reporting.
Got a News Tip?
Contact our editor via Proton Mail encrypted, X Direct Message, LinkedIn, or email. You can securely message him on Signal by using his username, Miko Santos.
More on The Evening Post AU
Get Evening Post Wrap - for nighly bite size news around Australia and the world.
Podwires Daily - for providing news about audio trends and podcasts.
Podwires Asia - for reporting on podcasting and audio trends in South East Asia
There’s a Glitch - updated tech news and scam and fraud trends
Manpalikha - The world's and Asia's most inventive advertisements and news.
The Freeman Chronicle Podcast - features expert interviews on current political and social issues in Australia and worldwide.
That Podcast Exchange - This podcast is an insightful conversation with people at the top of their game and deconstructs them to find the tools, tactics, and tricks to help you achieve your dream goal as Podcast Manager.
The MENCARI readers receive journalism free of financial and political influence.
We set our own news agenda, which is always based on facts rather than billionaire ownership or political pressure. Despite the financial challenges that our industry faces, we have decided to keep our reporting open to the public because we believe that everyone has the right to know the truth about the events that shape their world.
Thanks to the support of our readers, we can continue to provide free reporting. If you can, please choose to support MENCARI.
It only takes a minute to help us investigate fearlessly and expose lies and wrongdoing to hold power accountable. Thanks!