January Market Update
Residex repeat sales index shows an acceleration in housing market performance across most capital cities over the second half of 2016. Residex recently released the results of their repeat sales index for the December quarter of 2016. The quarterly results showed house and unit prices, based on resold properties, increased across every capital city and housing type with the exception of Perth, where house and unit prices fell, and the Brisbane market, where unit prices were lower.
Table 1: Residex Repeat Sales Statistical Summary – December Data
The Residex repeat sales index provides a unique perspective on the housing market, considering the resales methodology is very different to other housing market measurements available in the marketplace, which are typically price based (simple median prices and stratified median prices) or quality adjusted value based measures (hedonic regression index). In…
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