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Property market soars in January
Monday, 01 March 2010
Australia's housing market has enjoyed a strong start to 2010, according to RP Data's Hedonic Home Value Index.
The property market registered a solid 1.8 per cent capital gain in the month of January, based on indicative index results.
The average monthly growth rate for January was 0.7 per cent, suggesting the double digit capital gains seen in 2009 may start to moderate to historic single digit levels.
But despite the low monthly growth rate statistic, RP Data's national research director Tim Lawless said other results including capital gain and auction clearance rates, suggest the market has started the year with some confidence.
"Auction volumes are higher than at the same time last year and the national weighted clearance rate last week was a very healthy 73 per cent," Mr Lawless said.
Source: The Adviser Bulletin
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