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Perth Leads in House Price Lift

01 July 2013

The Perth house market has reclaimed its mantle as the nation's best with new figures showing prices picking up speed.

RP Data-Rismark reported this morning that house values across the city lifted by 1.8 per cent in June to be 6.3 per cent up through the 2012-13 financial year.

Perth joined Sydney as having the biggest increase in house values of any capital in the past 12 months.

The units market is not as strong in Perth. Unit values lifted by just 0.1 per cent last month to be up 2.4 per cent through 2012-13.

Nationally, house values improved 1.8 per cent in June while unit values lifted by 2.5 per cent.

Through the year, house values were up by four per cent while unit values climbed by 2.4 per cent.

The broader measure of home values lifted by 3.8 per cent through 2012-13, following a fall of 3.6 per cent the previous year.

RP's research director Tim Lawless said there had been a sharp pick up in the price of premium suburbs in Sydney.

But elsewhere it was lower priced suburbs improving in value the most.

"The most affordable and broad-middle priced segments of the housing market are typically showing the best value growth," he said.

"Premium markets are generally showing some appreciation, but still not at the same rate as lower priced market segments."

The Reserve Bank board meets tomorrow but markets are not expecting any further cuts in interest rates << back to news articles
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