Home values fall in June

Home values fell in June 0.7 per cent with no growth over the three months to June according to the RP Data-Rismark Hedonic Home Value Index, the largest fall in home values since April 2008. Home values across the country's capital cities remained flat with a mere 0.1 per cent increase in the June quarter, driven by increased prices in Adelaide, which remains the cheapest of Australia's capital cities, with a median dwelling price of $390,000.

In Sydney, dwelling values grew 0.5 per cent bringing the median dwelling price to $512,000, while in Melbourne, dwelling values grew 0.2 per cent with a median price of $470,000.

Source: The Advisor