News

End of Property Correction in Eastern states?

The Australian Property Market has experienced negative property growth in many capital cities in the last 18 months.

Some good data has emerged from RP Data Corelogic as at 30/6/19 which may indicate that the Property Valuations may have bottomed out in the Eastern capital cities.

Melbourne’s property values are up 0.2 percent in the month of June this year. This is the first capital gain the city has recorded for an extended period. Melbourne’s June quarterly values came in at minus 0.6.

Corelogic has also confirmed that Sydney has also had a gain of 0.1 percent in the month of June this year. Sydney’s June quarter came in at minus 1.1 percent.

Some of the lowest interest rates on record may have had an impact on this.