House values rise in February

House values rise in February Updated: 1:55 pm, Wednesday, 1 March 2017

Capital city property prices rose a further 1.4% in February, according to the latest monthly CoreLogic Home Value Index.

Dwelling values in Canberra led the way, up 3.2% month on month. This was followed by Sydney values, which rose 2.6%.House prices in Melbourne rose by 1.5%, followed by Hobart with a 1% rise.

According to CoreLogic head of research Tim Lawless, the annual growth rate across the combined capitals hasn’t been this strong since the June 2010 financial year.”

At a combined capital city level, growth conditions have been rebounding since the middle of last year when, on two separate occasions, interest rates were cut, and investor demand commenced trending higher.”

Source: House values rise in February