This is according to the latest RP Data – Rismark Home Value Index Release.
After a surge in values over the first quarter of this year, April’s housing market results have shown a marked slowdown in capital gains with dwelling values only 0.3% higher over the month.
Dwelling values across Australia’s capital cities shifted down a gear in April, rising by just 0.3 per cent across the RP Data – Rismark combined capital city index. The slowdown in the rate of capital growth comes after a very strong 2.3 per cent month-on-month rise in March and 3.5 per cent increase over the first quarter of the year.
Highlights over the three months to April 2014:
• Best performing capital city: Darwin, 5.1 per cent
• Weakest performing capital city: Canberra, 0.2 per cent
• Highest rental yields: Darwin houses with gross rental yield of 5.8 per cent and Darwin units at 6.1 per cent
• Lowest rental yields: Melbourne houses with gross rental yield of 3.3 per cent and Melbourne units at 4.2 per cent
• Most expensive city: Sydney with a median dwelling price of $680,000
• Most affordable city: Hobart with a median dwelling price of $340,000