Property values across the nation swelled in March, with CoreLogic recording a 0.4% rise in values.
Every capital city except Hobart recorded a positive change. Regional areas also saw prices on the rise (up 0.5% across March).
“Improved sentiment following the February rate cut is likely the biggest driver of the turnaround in values, along with the cut’s direct influence of a slight improvement in borrowing capacity and mortgage serviceability,” CoreLogic research director Tim Lawless said.
“With the rate-cutting cycle expected to be drawn out, it will be interesting to see if this positive inflection in values can last in the face of affordability constraints.”
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