Housing prices gained momentum in April after stalling in March, preliminary figures from CoreLogic RP Data show.
Prices rose by 1.5 per cent in April after gaining only 0.2 per cent in March, according to an estimate based on sales in the mainland state capitals for the first 28 days of April
Detailed data for the whole month and covering all capital cities and regions will be published on Monday, CoreLogic RP data said.
At its meeting today, the Board decided to lower the cash rate target by 25 basis points to 3.60 per cent.
National dwelling values increased by 0.6% in July, maintaining the pace of growth seen in the previous two months, based on CoreLogic’s latest Home Value Index. This represents the sixth consecutive month of growth, coinciding with the initial rate reduction implemented in February.
Australian housing values increased by 0.6% in June, representing the fifth consecutive month of growth after the -0.3% decline recorded between November and January.
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