House values up but growth may have peaked

House values up but growth may have peaked

02 December 2014 by Staff Reporter 0 comments

Australia’s house values have continued to increase in all of the capital cities, with only Sydney posting double-digit growth.

Sydney’s median house price is now $825,000, after rising 14.3 per cent during the 12 months to 30 November 2014, according to CoreLogic RP Data.

Melbourne grew 9.0 per cent over the year to $633,000, although house prices actually declined 1.7 per cent over the quarter.

House values also increased in Brisbane by 6.2 per cent and Hobart by 5.9 per cent, with median prices of $475,000 and $335,000 respectively.

Adelaide house values rose 3.0 per cent with a median price of $421,000, while Darwin grew 2 per cent with a median price of $564,000.

Canberra’s house prices grew 1.8 per cent with a median of $560,500, and Perth’s rose 1.5 per cent with a $530,000 median.

CoreLogic RP Data’s senior economist Cameron Kusher said that although home values have increased, most cities have now moved past their peak in annual growth.

“Importantly, this has become apparent in the two largest capital cities – Sydney and Melbourne – where annual value growth peaked at 16.7 per cent in April 2014 and 11.9 per cent in January 2014,” he said.

“Although Sydney and Melbourne appear to have moved through their peak periods, capital growth conditions have consistently been the main drivers of value growth over the past 12 months.”

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?