According to the RP Data Rismark Home Value Index, “Capital city home workers lifted 0.1% in November-the first increase since December 2010.” This is the first time that Capital City home value in 2011 in which home owners have received this good news at the year’s end. It’s not the home values but the regional values also increase since December 2010 with 0.3%.
According to Rismark Director Christopher Joye, The best proxy for housing demand-the number of new home loans approved for purchasing established properties-has risen robustly every month since March.” I think this good news will rebound solidly next year and the following years and to make the housing activity will become better and more competitive in the market. Investors expected a total return of 1.2% in capital city property this year and Melbourne, Perth and Canberra showed the best house values across the year and have flat-to positive gains. We may anticipate that despite the entire negative outlook for housing activity this year, maybe next year will become more competitive and will remain soft because there are a lot of signs that the property and the economy will raise next year.