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Editorial – House Values Continue To Rise

Terry RyderReal estate statistics can tell different stories, depending on the mindset of the viewer.

When CoreLogic publishes its monthly price data, it tends to view it with negative eyes because its motivation is to grab media attention.

Here’s how I see the data published on 1 March. Nationally, house values rose 0.7% in February, the 17th consecutive monthly rise.

Media will focus on the low figures for Sydney and Melbourne, but the real news is the smaller capital cities and the regional areas.

Most of the market jurisdictions recorded monthly rises of more than 1%, led by Regional Tasmania and Regional South Australia which rose more than 2%. Brisbane (1.9%) and Adelaide (1.8%) continue to lead the city growth, while Hobart (1.5%) and Darwin (1.2%) are still doing well.

Regional NSW (1.6%), Regional Victoria (1.3%) and Regional Queensland (1.8%) still have boom numbers. In the latest quarter Brisbane, Adelaide, Hobart and the regional areas of NSW, Victoria, Queensland, South Australia and Tasmania have all grown more than 4% in three months.

This means the boom continues in most markets.


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