Capital Gains Trend Losing Steam Despite Strong Monthly Rise

The housing market is gradually responding to higher mortgage rates, tighter credit policies and affordability challenges, with the quarterly trend in capital gains moderating relative to early 2017.

The July 2017 CoreLogic Home Value Index results recorded a 1.5% rise in dwelling values across the combined capital cities for the month.  Most individual capital cities recorded a rise, however, a 3.1% gain in Melbourne was a significant driver for the strong monthly result across the…