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Australian capital housing markets reveal a polarised growth trend

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8 Dec

Australian capital housing markets reveal a polarised growth trend

launch-admin Dec 8, 2014 1 473

 

 


Media Release

 

 

Australian capital housing markets reveal a polarised growth trend

 

Australia, 29 September 2014: New research released by Onthehouse.com.au revealed a polarised growth trend across Australia’s capital cities, with August data showing steady growth in Melbourne and Sydney’s housing markets, offset against falls in Brisbane and Perth.

 

The findings show that the overall national growth rate has slowed significantly, with growth in the house market falling from 0.86% in July to 0.02% in August. Growth in the unit market has also dropped during the same time period, from 1.62% to -0.37%.

 

The Melbourne house market defied the downward trend recording 2.31% growth in August, which is the highest monthly growth rate seen in this market since March 2013. Growth in the unit market was also positive in August, at 1.00%.

 

Sydney houses sustained a steady growth rate of 1.52% in August while unit rates slowed to 0.10% from 2.35% in July.

 

The Brisbane and Perth house markets recorded the worst rates of growth in August, with values dropping -1.70% and -1.84% respectively.

 

Consulting Analyst for Onthehouse.com.au, John Edwards, said: “The Brisbane housing market continues to defy the growth trend seen across other capital city markets, in particular Sydney and Melbourne. Brisbane now offers an attractive affordable-lifestyle balance – and as the Queensland government repairs its balance sheet, job opportunities and housing values will begin to increase.”

 

The following tables demonstrate the August market performance for both houses and units across Australia:

 

Houses

Ranking

Area

Median Value

Growth

10 Years % pa avg.

Year Ending Aug 2014

Last Quarter

Last Month

1

Melbourne

$640,500

6.38%

10.71%

2.10%

2.31%

2

Sydney

$852,500

4.38%

16.93%

3.50%

1.52%

3

Darwin

$584,500

8.94%

2.11%

1.50%

1.13%

4

Hobart

$367,000

3.39%

4.30%

1.63%

0.60%

5

TAS Country

$264,000

3.35%

5.52%

-0.89%

0.59%

 

Australia

$473,000

4.78%

7.56%

1.81%

0.02%

6

Adelaide

$413,000

4.54%

5.33%

0.34%

-0.10%

7

NSW Country

$379,500

2.50%

7.20%

1.12%

-0.15%

8

VIC Country

$341,500

4.75%

5.57%

1.25%

-0.41%

9

QLD Country

$379,000

4.51%

4.60%

0.05%

-0.51%

10

WA Country

$347,000

6.27%

2.65%

-1.43%

-0.52%

11

Northern Territory

$539,500

8.59%

2.89%

0.15%

-0.55%

12

ACT

$521,000

4.02%

-1.91%

-1.93%

-1.43%

13

SA Country

$251,500

4.08%

1.81%

-0.35%

-1.49%

14

Brisbane

$465,500

3.91%

4.93%

-0.35%

-1.70%

15

Perth

$533,500

6.33%

5.46%

1.37%

-1.84%

Source: Onthehouse.com.au

 

Units

Ranking

Area

Median Value

Growth

10 Years % pa avg.

Year Ending Aug 2014

Last Quarter

Last Month

1

WA Country

$310,000

4.99%

3.92%

-3.84%

2.14%

2

TAS Country

$201,500

3.29%

7.47%

6.24%

1.06%

3

Melbourne

$461,500

5.30%

5.80%

0.71%

1.00%

4

ACT

$403,500

3.36%

-2.00%

-1.57%

0.41%

5

Darwin

$433,500

9.70%

0.55%

0.49%

0.32%

6

Sydney

$582,500

4.41%

14.31%

3.64%

0.10%

7

Brisbane

$369,000

4.30%

5.94%

1.17%

-0.01%

8

NSW Country

$323,000

1.96%

7.85%

2.53%

-0.07%

9

VIC Country

$261,000

3.81%

2.19%

1.52%

-0.30%

 

Australia

$441,500

4.18%

8.61%

2.93%

-0.37%

10

SA Country

$228,000

3.34%

-2.08%

-4.59%

-0.40%

11

QLD Country

$315,000

2.25%

4.48%

0.23%

-0.54%

12

Adelaide

$305,500

4.78%

1.81%

-3.02%

-0.55%

13

Hobart

$259,500

3.36%

6.49%

-0.69%

-1.13%

14

Northern Territory

$403,500

9.23%

-1.60%

-3.01%

-1.31%

15

Perth

$455,000

7.04%

1.85%

-0.88%

-1.91%

Source: Onthehouse.com.au

 

Mr Edwards added: “Melbourne has seen an unexpected increase in its August growth figures. This is due to a predominately auction driven selling process that results in a more volatile market. The quarterly trend report suggests that this number is probably unsustainable, and I expect a more moderate growth rate to resume in September.

 

“The Sydney market does seem to be slowing, although not as quickly as we expected. Taking into account the median household income, the affordability measure is now at historic heights, with loan repayments taking about 54 per cent of the after tax income.

 

“The current median house price is now only $147,500 away from breaching the million dollar mark. At this rate, we expect to hit this median within a five year period.”

 

Text Box: Graph 1 – Growth Trends

 

 

 

 

 

 

 

 

 

 

 

 

 

For more information head to www.Onthehouse.com.au

 

-ENDS-

 

 

Media contacts

Ashford Pritchard: E ashford@launchgroup.com.au  / T 02 9492 1040 / M 0411 020 680

Laura Douglas: E laura@launchgroup.com.au / T 02 9492 1000 / M 0452 505 859

Sarah Bond: E: sarah@launchgroup.com.au / T 02 9492 1041 / M 0449 543 181

 

About onthousehouse.com.au

www.Onthehouse.com.au is Australia’s most transparent and comprehensive real estate portal, empowering consumers to make informed property decisions by providing them with free access to information. Over 1 million unique browsers visit Onthehouse.com.au every month to search listings and view in-depth property data, making it Australia’s third most popular real estate platform.

 

Onthehouse.com.au is the flagship consumer offering of Onthehouse Holdings (ASX:OTH), the 360-degree property market services group that provides comprehensive real estate agency solutions, information and analytics services. Onthehouse Holdings businesses together help over half of Australia’s real estate agencies, as well as being used by financial institutions and other property-related professionals. 

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