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AU Home prices up 2.8pc in Adelaide for April, bucking the trend for rest of nation

Property Here - Wednesday, May 01, 2013

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House prices in Adelaide are up 2.8 per cent for the month of April.

ADELAIDE recorded the strongest house price growth of all the capital cities for the month of April with a rise of 2.8 per cent, new figures show.

Adelaide and Darwin were he only capital cities to record gains in home prices for April, though Darwin's rise was a much softer 0.2 per cent, according to the RP Data-Rismark Home Value Index.

Adelaide also was the second highest performing capital city for the quarter, recording a 2 per cent gain, after Dawin, with 5 per cent.

Hobart was the worst performer in April, with prices dropping 3.1 per cent according to the index, followed by Perth, where prices fell 2.5 per cent.

One in three SA homes double in value

But RP Data director of research, Tim Lawless, said nationally, home prices were still 4.2 per cent higher than the low reached in May last year after two years of weakness.

Real estate jargon to giggle at

He said the April result for the rest of the nation was likely to be a blip, with the housing market recovery to continue over the coming months.

"We weren't expecting that the high rate of growth, evidenced over the first three months of the year, would be sustained into April," he said.

"A more measured pace of growth is a much more realistic outcome for the Australian housing market, especially considering that the first quarter is typically the strongest for value growth."

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