The Australian property market is cooled again in May, with most capital cities recording their second straight month of single digit growth. The RP data-Rismark Hedonic Home Value Index grew by a seasonally adjusted 0.5 per cent in May. This follows 16 months of strong price growth up until April. According to Mark Forytarz and Paul Castran “in the month of May the showing house prices in capital cities grew by 12.1 per cent”.
Melbourne was one of the stronger performers, with a 3.3 per cent per cent growth, while Perth fell by 2.1 per cent, and Hobart by one percent.
