The CoreLogic July Home Value Index results reported a 0.8% rise over the month, taking capital city dwelling values 6.3% higher over the first seven months of the year.
The annual rate of growth, which peaked at 11.1% across the combined capitals in October 2015, is now 6.1% – the slowest annual rate of appreciation since September 2013.
While values are still rising, four of Australia’s eight capital cities recorded a fall in dwelling values in July, according to these figures.
July marks the 50th month of the combined capitals growth cycle, which commenced in June 2012. Over the cycle to date, capital city dwelling values have risen 38%. This demonstrates the strength in the Sydney (up 61%) and Melbourne (up 42%) markets over the cycle to date.
Hobart’s values rose 17.6% over the growth cycle, followed by Brisbane (17.4%), Adelaide (14.3%) and Canberra (12.4%).