Australia's eight regional capitals are leading the way in a housing market recovery, with the latest figures showing valuation increases for property across the country.
Rismark International chief executive officer Ben Skilbeck told Australian Property Investor that a 1.4 per cent increase in average capital city property values was witnessed in September this year, despite concerns of an impending oversupply of housing stock.
"If we adjust this to take into account seasonality, the increase is still a strong 2.9 per cent [and] represents an annualised pace of nine per cent per annum," he commented.
Mr Skilbeck added that Adelaide saw the strongest growth, followed by Perth and Sydney.
Meanwhile, the Property Council of Australia (PCA) recently highlighted an increasing trend for the uptake of office space across the country's capitals during the last six months.
The latest Office Market Report from the PCA revealed the lowest office vacancy rates since January 2009 at 7.8 per cent.
Posted by Steve Douglas
