Brisbane home price growth the slowest in four years: CoreLogic

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Generic wood Queenslander houses ,needing renovating or renovated Queenslander houses , in Paddington , Brisbane.

Brisbane home values have recorded their slowest rate of growth in four years, according to CoreLogic.

BRISBANE home prices have recorded their slowest rate of growth in four years, new data shows.

Dwelling values rose just two per cent over the past financial year — down from 5.3 per cent the previous year, according to CoreLogic.

And while Brisbane home values have increased over each of the past five years, last year was the slowest rate of growth since 2012-13.

It’s a vastly different picture in Sydney and Melbourne, where home values rose 12.2 per cent and 13.7 per cent respectively over the past year.

In Perth and Darwin, dwelling values have fallen for the past three financial years.

Generic wood Queenslander houses ,needing renovating or renovated Queenslander houses , in Paddington , Brisbane.

Brisbane home values rose just two per cent in the 2016-17 financial year, according to CoreLogic.

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Across the combined capital cities, dwelling values increased by 9.6 per cent which was actually greater than the 8.3 per cent rise over the 2015-16 financial year.

Combined capital city dwelling values have now increased for five straight financial years, but that could be about to come to an end.

CoreLogic analyst Cameron Kusher said a rebound in investment activity and successive interest rate cuts had helped some capital city housing markets in the past financial year.

But Mr Kusher said the new round of macroprudential policies announced at the end of March meant there was likely to be a similar, if not more pronounced, slowdown in investment activity across the housing market.

“Coupled with affordability constraints and higher mortgage rates, we expect the 2017/18 financial year will record a less substantial rate of capital gains than what was seen in 2016/17,” he said.

Follow Liz Tilley on Twitter @liztilley84

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