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RP Data: home values continue to rise

Home values across Australia's capital cities have continued to rise.

Home values are continuing to rise across Australia, with new results from RP Data showing that they collectively rose by 1.3 per cent.

In the October release of its Rismark Home Value Index, it says that most of the growth for this month was supported largely by Sydney although Melbourne and Brisbane also made strong contributions.

RP Data senior research analyst Cameron Kusher said: “Sydney home values increased by 2.4 per cent in October and increased by 5.5 per cent over the past three months while in Melbourne, home values increased by 1.2 per cent in October and recorded an increase of 3.8 per cent over the past three months."

Sydney has continued to see high consumer interest in its residential property market recently. Over spring, its weekend auction markets have generally experienced clearance rates in excess of 80 per cent according to Australian Property Monitors.

Posted by Steve Douglas

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