news

Rate cut helps property market rebound

0

The Reserve Bank of Australia's decision to cut the official cash rate is paying dividends, with capital city values rising for the first time in 12 months.

According to the latest research from RP Data, in seasonally-adjusted terms, Australia's capital city home values rose by 0.1 per cent in November – the first increase since December 2010.

Regional house values recorded a 0.3 per cent rise in November, which was also the biggest increase since December 2010.

Rismark's director Christopher Joye said for Australia's capital city and regional markets, this was the single best monthly result since December 2010, and augurs well for housing activity during the first quarter of 2012.

"The best proxy for housing demand—the number of new home loans approved for purchasing established properties—has risen robustly every month since its nadir in March," he said.

Mr Joye said the November result has helped improve the Australian housing market's year-to-date performance.

"The November result is consistent with our forecasts that Australia's housing market will respond much more quickly to the RBA's November and December cuts than many analysts expect," he said.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
PAMBULA 42%
2.
MILSONS POINT 41.26%
3.
SPEERS POINT 39.69%
4.
SPRINGWOOD 37.72%
5.
ILUKA 36.3%