Metro Melbourne surpasses $1m mark for the first time
While it has lagged behind other capital cities in post-pandemic recovery, Melbourne has now cemented its resilience, re...
Growth in the Sydney and Melbourne property markets may have peaked, according to RP Data senior research analyst Cameron Kusher.
Yet in the month of November, Sydney’s growth slowed to 0.9 per cent and Melbourne values dropped by 2.1 per cent.
Mr Kusher said that while further growth is likely for this cycle, it may be the case that the peak rate of value growth in both cities has now passed.
Overall, although dwelling values rose across Australian capital cities in November, results were lower than previous months.
A report by RP Data-Rismark showed the combined capital cities growth rate came to 0.1 per cent in November.
This is a significant slowdown from the 1.6 per cent growth rate recorded in September and the 1.3 per cent in October.
Mr Kusher said the slowing rate of capital city home value growth indicates a potential moderation in overall growth.
Nonetheless, all cities except Hobart have risen in the past 12 months.
Adelaide had more moderate results, between 2.5 and 3 per cent.was a standout performer, with a growth rate of 8.9 per cent, while Brisbane and