Our Backyard – Anglesea

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Australia’s home values have surged by 3.5 per cent in the first quarter of 2014 with analysts describing the recent growth as “unsustainably strong”.  The RP Data-Rismark Hedonic Home Value Index released on Tuesday showed a rise in dwelling values in every capital city in March.

Melbourne has been the surprise leader of the pack in 2014, growing by 2.3 per cent in March and 5.4 per cent over the quarter.

Though outpaced by Melbourne, Sydney remains by far the most expensive city in the country with a median house price of $713,000 and a median unit price of $552,500.

Melbourne’s median house price remains $158,000 below Sydney’s, growing to $555,000 over the past quarter.  Melbourne’s median apartment price is now $448,000 with total dwelling values now 4.7 per cent higher than their previous peak, also recorded in late 2010.

Senior research analyst at RP Data, Cameron Kusher, described the monthly growth as “a little bit of a surprise given that February was flat”.

While RP Data national research director, Tim Lawless, said the February result was an “aberration”, Rismark’s managing director, Ben Skillbeck, put the slow start to 2014 down to seasonality.

“March and September have a history of being comparatively strong seasonal months for dwelling changes,” said Mr Skillbeck.

“As such, there should be little surprise that, in the presence of high auction clearance rates and in the absence of any major economic changes, the March month delivered materially stronger performance than the flat February result.”

OPEN FOR INSPECTION

Saturday April 5, 2014

67 Harvey Street  12.00 – 12.30

31 Fraser Avenue  1.00 – 1.30

2/2A Walker Street 1.30 – 2.00

38 O’Donohue Road  2.00 – 2.30

Sunday April 6, 2014

42 Fairway Drive  1.00 – 1.30

20A Sixth Avenue  2.00 – 2.30

Geoffshot1.pdf.jpg      Ianshot.pdf.jpg

Geoff Lewtas                                                     Ian Lewtas

geoffl@greatoceanroadrealestate.com.au           ianl@greatoceanroadrealestate.com.au

0417 552 522                                                      0419 511 428

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