Australian dwellings valued at $6 trillion, capital city values 2.8% higher in July

The CoreLogic RP Data Hedonic Home Value Index (July 2015) results released today showed Melbourne and Sydney continued to set a rapid pace for capital gains, pushing the Index 2.8% higher over the month and 11.1% higher over the past year. According to Tim Lawless, CoreLogic RP Data’s head of research, the total aggregated value of Australian housing has increased by just over half a trillion dollars over the past twelve months. Focusing on value growth, Melbourne traded places with Sydney over the past three months to record the highest rate of capital gain. Dwelling values in Melbourne surged 6.1 per cent higher over the three months ending July 31; the highest rolling quarterly rate of growth since the three months ending August last year when values grew 6.4 per cent over that period. To read more click (VIEW LINK)