Dwelling values across Australia continued their downward trajectory in April, falling by half a percent over the month to be down -7.2% over the past twelve months and -7.9% lower since peaking in September 2017.

Although housing values are broadly trending lower, the rate of decline has been easing since moving through a monthly low point in December last year when national dwelling values fell -1.1%.

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According to CoreLogic head of research Tim Lawless, “The improvement in the rate of decline is attributable to an easing in the market downturn across Sydney and Melbourne where values were previously falling much faster. In December last year, Sydney dwelling values were down -1.8%, with the pace of month-on-month falls progressively moderating back to -0.7% in April. Similarly, Melbourne values were down -1.5% in December, with the rate of decline improving to -0.6% in April.“

Other property market insights supporting a subtle improvement in housing market conditions include a rise in mortgage related valuations activity (as indicated by CoreLogic platform data), an improvement in ABS household finance data for February, and the fact that auction clearance rates are holding around the mid-50% range across the major auction markets. Tim Lawless said, “While none of these indicators could be described as strong, the current trend in the data implies that housing market conditions may have moved through the worst of the downturn.”

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In April, dwelling values fell across every capital city apart from Canberra, while regional areas of Tasmania, Victoria and South Australia also avoided a fall. The broad-based nature of lower housing values highlights that while the rate of decline has eased, the geographic scope of lower dwelling values remains broad.

Values were down by -0.9% in Hobart, signaling a weakening across what has been one of the strongest capital city markets for value gains and leaving Canberra as the only capital city where dwelling values were up over the month.

Annually, national dwelling values were down -7.2%; the largest annual fall since the twelve months ending February 2009, which was associated with the Global Financial Crisis.

Across the capital cities, Sydney (-10.9%) and Melbourne (-10.0%) are both now recording double-digit annual declines, followed by Perth (-8.3%) and Darwin (-7.1%). The largest gains are in Hobart (+3.8%) and Canberra (+2.5%), while Adelaide is the only other capital city to remain in the black over the past twelve months (+0.3%).

Across the capital cities, Sydney (-10.9%) and Melbourne (-10.0%) are both now recording double-digit annual declines, followed by Perth (-8.3%) and Darwin (-7.1%). The largest gains are in Hobart (+3.8%) and Canberra (+2.5%), while Adelaide is the only other capital city to remain in the black over the past twelve months (+0.3%).

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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