Capital city dwelling values increased by 0.6 percent over July, according to the RP Data Rismark Home Value Index.
Darwin recorded the biggest increase over the period, at 3.2 percent.
Adelaide recorded the biggest decline, with values down by 2.3 percent.
Darwin also saw the highest rental yield of all capitals. The gross rental yield for houses was at 5.7 percent. The gross rental yield for units was 5.9 percent.
Capital city dwelling values are down 0.6 percent since the start of 2012. At 30 May the index recorded dwelling values 2.2 percent below the calendar year starting level.
Tim Lawless, RP Data research director, says the increase in capital city dwelling values over July is not as broad-based as the 1 percent increase in values over June.
Lawless says the July month-on-month increase was primarily associated with Sydney and Melbourne markets, where dwelling values increased by 1.2 percent and 1.4 percent respectively.
“The July result, when viewed together with the positive June result, suggests housing markets may be starting to respond to lower mortgage rates, which according to the RBA’s latest Board meeting minutes are around 50 basis points below their 15-year average,” Lawless says.
Changes in dwelling values by capital city
