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Adelaide housing values take No.2 spot in December as Sydney and Melbourne fall

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Adelaide housing values take No.2 spot in December as Sydney and Melbourne fall.

Dwelling values in Adelaide were second equal in the land at the end of December, according to the latest figures from CoreLogic.

National dwelling values fell -0.3%, as the cooling down of Sydney market continues.

Sydney saw a dip of –0.9%, worst equal with Darwin.

Melbourne, which has proved more resilient than Sydney in recent months, also dipped –0.2%.

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Perth dipped –0.1%, suggesting that the recent boost in Australia’s materials sector is helping housing values to bounce back from its post-mining boom hangover.

At the other end of the scale, Hobart ended a strong 2017 with housing values increasing 1.5% in December, more than any other capital city.

Adelaide and Canberra shared the second spot with 0.2% growth, and Brisbane was totally flat at 0.0%.

“From a macro perspective, late 2016 marked a peak in the pace of capital gains across Australia with national dwelling values rising at the rolling quarterly pace of 3.7% over the three months to November,” said CoreLogic head of research Tim Lawless.

“Sydney’s housing market has become the most significant drag on the headline growth figures.”

Source: CoreLogic