From the ANZ comes the latest update on house prices which shows that the rises of 2013 have been consolidated in private treaty sales even though auctions have been quiet over the start of the year.
Incredibly, Melbourne prices are up a stunning 3.2% in the past month (1.8% in trend terms) followed by Sydney and Perth, which are both up 1.3% in trend terms, while Brisbane is up 0.9% and Adelaide brings up the rear with a rise of 0.3%.
Paul Braddick, ANZ’s Head of Property Research, said in a note to clients that:
“We expect housing market momentum to remain positive in 2014, underpinned by a significant underlying housing shortage and buoyed by improved household confidence and an extended period of low interest rates.”
More good news for home owners – less so for those wanting to get to the first rung of the property ladder.