RP Data July Housing Market Results To Be Released Friday August 1
By CoreLogic RP Data on 31 Jul 2014
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After reporting a 1.4 per cent increase over the month of June, RP Data Rismark is set to report a further increase in capital city dwelling values when housing market results to the end of July are released on Friday.
The preliminary results from RP Data’s daily index are showing a 1.6 per cent capital gain across the combined five city aggregate index over the month to date.
Once again, the growth is being driven by the Sydney and Melbourne markets, which have continued to outperform the smaller state capitals.
“…conditions have remained remarkably resilient to a slowdown.”
The strong growth conditions have been supported by high clearance rates and a slowdown in the number of homes being advertised for sale. Consumer confidence has also ticked up over the month, which is likely to provide further market support.
Additionally, we have recently seen the interest rate on fixed mortgages under some downwards pressure. This is likely to provide some further positive momentum to the market.
We remain of the view that growth trends across the Sydney and Melbourne housing markets will start to ease during 2014; however, conditions have remained remarkably resilient to a slowdown to date.
