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Adelaide Experiences Moderate Value Growth in 2013

By Brett Pilgrim

Property in Adelaide experienced moderate price growth last year – a situation that was also evident in many other parts of the country.

The RP Data-Rismark Home Value Index for December 2013 shows house values increased 3 per cent in the South Australian capital, while unit prices ended the year 0.6 per cent higher.

There has been no change to gross rental yields for houses over the 12-month period, as these have remained at 4.3 per cent.

Unit yields, on the other hand, experienced a slight rise of 0.1 per cent between 2012 and 2013.

Commenting on the national figures, Cameron Kusher from RP Data said the most significant price growth was witnessed during the second half of the year.

Across the country, home values increased 3 per cent during the first three months of 2013 before increasing to 6.6 per cent during the latter half.

“Despite the strongest annual value growth since 2009, the rate of growth was not that startling given the low interest rate environment and the previous successive years in which home values fell,” Mr Kusher acknowledged.

He noted property values fell 3.8 per cent in 2011 and by a further 0.4 per cent the following year.

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