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Housing market remains soft despite rate cuts.
The RP Data-Rismark May Home Value Index results confirmed a further drop of -1.4 per cent for capital city home values indicating that the housing market has not responded to the latest round of interest rate cuts.
Residential property values have continued to slide across the capital cities, with the RP Data-Rismark Home Value Index recording a -1.4 per cent fall in dwelling values over the month of May. The latest drop brings the cumulative decline to -2.2 per cent over the first five months of 2012 and overall values are down -5.3 per cent over the past twelve months.
Linda & Carlos Debello
LJ Gilland Real Estate Pty Ltd
http://www.facebook.com/pages/LJ Gilland Real Estate Pty Ltd
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