Those looking to buy or sell property in Brunswick may be interested in knowing that dwelling values are rising at a more sustainable level than in previous months.
According to information released by RP Data and Rismark International on September 2, levels of capital gains moved back to more viable levels during the month of August.
Dwelling values rose by half a per cent over August – a much more stable figure than rates recorded earlier in the year. For example, the corresponding rate was 1.9 per cent during June and 1.6 per cent during July, indicating a greater level of volatility. This is especially significant when you take into account the total rolling three month change in dwelling values was 4 per cent – the highest rise in a three month period since the one that ended in April 2010.
"While the recent surge in dwelling values has caused some renewed debate about an Australian housing bubble, it is important to remember that the average annual capital gain over the past decade has been just 4.3 per cent across the combined capital cities," said RP Data research director Tim Lawless.
"In Sydney the annual rate of growth has seen a much lower decline of 2.4 per cent which is well below current inflation."
The slower month-on-month rise in dwelling values will therefore come as a great relief to some.