Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

House values up but growth may have peaked

By Staff Reporter
02 December 2014 | 1 minute read

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

Advertisement
Advertisement

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.”

House values up but growth may have peaked
house pic
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.