DESPITE a very strong start to the year home value growth has slowed with figures falling in all but three capital cities.
The latest CoreLogic RP Data home value index reveals a 0.3 per cent fall in values across the combined capital cities during November.
CoreLogic RP Data research analyst Cameron Kusher said the latest figures showed that home value growth had slowed even further.
Even with the slow down, four capital cities did experience price growth during November.
Sydney continued to be a solid performer with its values up 1 per cent, Perth was up 0.9 per cent, Brisbane 0.4 per cent and Hobart 0.2 per cent.
Melbourne had the biggest drop in values during the month of 2.6 per cent, while Adelaide values were down 0.3 per cent and Darwin 0.8 per cent.
Mr Kusher said the latest figures suggested that most cities had now moved past their cyclicial peak.
“Although combined capital city home values increased by a healthy 8.5 per cent, over the 12 months to November 2014, the annual growth rate is now at its lowest level in the year.’’
“With just one month left in 2014 it is looking as if this year will see a lower level of capital growth than last year.’’
“This year home values have risen by 7 per cent compared to 9.8 per cent in 2013.’’