Property recovery on the horizon
Now could be the perfect time to get a foot on the property ladder, with experts tipping the real ...
Now could be the perfect time to get a foot on the property ladder, with experts tipping the real estate market is set to recover in 2013.
That's the assertion made in RP Data's January Rismark Home Value Index, with the report revealing house prices continue to improve nationwide.
According to the index, home values in Australia's capital cities lifted 1.2 per cent in January - resulting in a 1.8 per cent increase over the past 12 months.
The latest figures are particularly encouraging given prices have recovered 3.1 per cent since falling flat in May 2012.
RP Data research director Tim Lawless said the property market appeared to have started the year on a positive note.
"These strong January results are likely to have seen some upwards seasonal bias, however, the housing market has been on a clear recovery trend since June last year," Mr Lawless said.
"Capital gains aren't likely to remain this high over the coming months, however we are likely to see the recovery trend continue through 2013."
Brisbane, Sydney and Perth led the growth with two per cent, 1.8 per cent and 1.7 per cent gains respectively.
Melbourne jumped by 0.2 per cent and Adelaide rose by 0.4 per cent.