Lower rates boost Sydney home values in May

Sydney

SYDNEY'S home values posted the biggest rise in 10 months in May, as lower mortgage rates and a partial easing of lending standards revived buyers' appetite.

Prices in the nation's largest city climbed 3.1 per cent in May - the fifth straight month of gains and the most among state capitals, according to research firm CoreLogic Inc. The increase, the most since last July, took the advance for the past 12 months to 13.1 per cent, the data showed.