Brisbane Housing Values Improve

BRISBANE housing figures are continuing their upward climb with values up for the beginning of the year.

Brisbane dwelling values rose by 0.7 per cent in January and 2.7 per cent for the past quarter.

Nationally dwelling values jumped 1.2 per cent during January alone, according to the latest RP Data-Rismark Home Value Index.

The latest national increase means housing values have increased by 13.2 per cent since June 2012 and are now 4.8 per cent higher than their previous peak in October 2010.

The figures also showed that the premium end of the market has continued to gather pace during the past six months and was now showing the highest capital gains.

Premium dwelling values rose by 10.1 per cent during the past twelve months compared with a 9.5 per cent and 7.5 per cent capital gain across the mid-market and most affordable quarter of the market.

Mr Lawless said the latest figures were likely to dampen further speculation that there will be a cut to interest rates any time soon.

“Together with the higher than expected inflation reading and a lower Aussie dollar, the sustained growth in dwelling values is another factor the RBA is likely to consider when deliberating on any movement in the cash rate,” Mr Lawless said.