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Property values hit by rate rise: Residex

Staff Reporter 1 minute read

Property markets are hurting from the latest string of interest rate rises, Residex data has revealed.

House prices fell in most capital cities over the month of February, according to the property analyst.

Hobart house values fared the worst, falling by 2.21 per cent.

Brisbane, Sydney, Perth, Melbourne and Darwin also experienced declines in values.

“The recent RBA interest rate rise has had an impact and it has been significant,” said Residex managing director John Edwards.

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Adelaide and Canberra were the only capital cities to experience increases in values, with house prices rising by 1.35 per cent and 0.11 per cent respectively.

Unit markets performed slightly better, with Darwin achieving the greatest growth for the month of 2.76 per cent.

Published: 17-03-08

Property values hit by rate rise: Residex
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