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Australian Home Values Rise

Australian home values rise by 4 per cent in 2009, virtually wiping out 2008 losses.

This week RPData released an article stating that Australian home values have risen by 4% reaching a national median of $468,819; just 0.1 per cent, or $520, shy of their peak in February 2008.

The results reveal that apart from Perth, for the first five months of 2009 home values in every capital city in Australia increased.

Melbourne’s home values have risen by 3.5% over the last 12 months.
During this period, house values increased by 3.3%, unit values rising by 4.5% with Melbourne being the best performing capital city market in terms of appreciation in median dwelling values.

Melbourne houses (together with Sydney) currently have the shortest average time on market at 29 days.
– rpdata.net.au

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