Property values for the month of September shattered the record set during the 2010 property boom, according to RP Data Rismark. Housing values for 2010 were at its highest at 141.45. As of 2013 year to date, capital city values are at 124.11.
Growing concern over the property price increase has caused analysts to speculate that this trend might result to a property bubble.
RP Data director Tim Lawless thinks otherwise. He calls the property value increase as a “technical” recovery, as there are other factors that keep the property value in check. Housing values are increasing, but in turn, there are shortages because of a rapid increase in population, low interest rate and strict lending standards.
Read more about this on the Age website.