ACT house values jumped by 2 per cent in June. Photo: Thinkstock
The new financial year has brought good news for Canberran property owners, with home values increasing by 2 per cent over June.
Home values in six Australian capital cities rebounded over the month, according to new figures issued by RP Data-Rismark today.
RP Data research director Tim Lawless said there were potentially several elements behind the boost in values over June, which is usually a seasonally-weak month.
"The catalyst for the improvement in market conditions is likely to have been the 55 basis point reduction in the average discounted home loan rate over May and June, as well as the subtle improvement in consumer sentiment readings that have been reported," he said.
Canberran home values experienced the second largest increase in the country behind Hobart, which rose by 2.7 per cent over June.
Perth experienced an increase of 2 per cent over the month, while home values in Sydney, Melbourne and Brisbane all increased by 1 per cent.
Mr Lawless said despite these increases across the country, Australian home values are still down over 2012.
"So far this year capital city dwellings have simultaneously risen over three months and fallen over three months," he said.
"The wash up is that values have fallen more than they have risen."
Over the quarter, home values in Canberra increased by 0.6 per cent and were up by 1.3 per cent over the year.