Property Market Update
Capital City housing market statistics for April 2013 are now available.
The latest research and analysis has revealed most markets are presenting growth. Sydney's un-affordability is making it overly sensitive to changing economic conditions and the house and land market recorded negative growth (-1.42%) in April. Melbourne houses also suffered negative growth in the last month, but to a lesser extent (-1.14%).
The 25 basis point interest rate reduction by the RBA will be helping home owners and has increased affordability for those wanting to get into the housing market. The interest rate reduction will help ensure the advance in housing values that are currently being seen continues, albeit at a moderate level. Rental yields across the nation are rising and will continue to do so as fewer people venture into home ownership and renting becomes more the norm.
To read John Edwards’ expert view on the state of the market and to see the April 2013 Australian capital city statistics, please click here.