Corelogic recently reported that housing value around the country was down -5% in 2022.
“After the monthly rate of decline moderated between September and November, housing markets finished the year on a weaker note, with CoreLogic’s national Home Value Index falling -1.1% in December, taking values -5.3% lower over the 2022 calendar year.” – Corelogic, Jan 2nd, 2023.
The report added that Melbourne’s monthly rate of decline has been increasing. From -0.8% in November 2022 to -1.2% in December.
The same can be seen in Sydney, Darwin, Adelaide, and Canberra when we’re looking at it every month.
Brisbane and Hobart have remained relatively stable in value and have not dropped nearly as much as the other regions, and what’s more interesting is that Perth remained slightly positive for the second consecutive month.
This is why it is important for an investor to always analyze the market and find the right property that will work for you. Obviously with how busy we all are this isn’t always possible, fortunately, the team at RPA is here to take on all the hard work so that you don’t have to.
Schedule an appointment with us below and see how it can work for you.