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Aussie home values steady in October, but 2010-11 headwinds loom
Dwelling values were up a modest 0.3% in seasonally-adjusted terms during October. Yet the November rate rise, bank top-ups, declining clearance rates, and a rising stock of unsold homes hint at tougher times ahead.
According to RP Data-Rismarks market-leading Hedonic Home Value Index, Australian capital city dwelling values continued to consolidate in the month of October with a small seasonally-adjusted rise of 0.3% (+0.6% raw).
In the first 10 months of the year, Australian capital city dwelling values have risen by a modest 4.3% (s.a.) (or +5.7% raw), which is broadly in line with disposable income growth. Capital gains in the twelve months to end October have been a solid 6.5% due to the double-digit annualised growth recorded in late 2009 and early 2010.
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