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Australia Housing Price Rise Cools Down in August

By Admin | Aug 31, 2015 at 10:33 am | 0 Comments |

As the housing prices in Australia are growing at a frequent rate from the past many months. However, for this month CoreLogic RP data shows that the rise is cooling.

After analysing the data, it has been seen that prices in the mainland capitals got a rise of 0.5 per cent in this month, whereas for July month, there was a 2.8 per cent rise and for June month, there was 2.1 per cent rise.

CoreLogic RP Data head of research Tim Lawless said, “The monthly growth slowdown was most evident in Melbourne, where prices were relatively flat, up only about 0.1 per cent on average in the first four weeks of August compared with the July average”.

The figures released by CoreLogic is just an overview and the detailed figures will be released on Tuesday. Along with it the HIA data also showed that, the new home sales got down to 0.4 percent for July month, whereas they got a rise of 0.5 per cent in June.

At this HIA chief economist Dr Harley Dale said, “Home sales remain in strong shape, drifting along at historically high levels in mid-2015. It appears that the cyclical peak for total new home sales occurred in April, but the subsequent downward trend is very mild”.

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