It’s been a good year of capital growth across Australia | John Edwards

It’s been a good year of capital growth across Australia, with almost all of the major country and metropolitan regions recording positive growth in the year to June 2014.

As a whole, Australian houses and units have increased 7.09% and 7.70% respectively in the last 12 months.

The Sydney property market has again led the way, achieving a staggering 15.37% growth rate in the house market and 13.30% growth in unit values, which translates to an increase in value of almost $110,000 and $67,000 respectively.

Darwin was the only house market to achieve negative growth in the year to June, where values declined 1.1%.

There was also only one unit market to record negative growth during the same time period, which was Tasmania (-0.21%).

Given the recent change in the government, it’s not surprising to see low capital growth figures in Canberra market. Growth in the Canberra house and unit markets were the second worst amongst the nation, at 0.29% and 1.61% respectively.

Table 1 – Australian Major Market Update

Despite high growth in the last year, the data trend indicates that our housing markets are cooling (see Graph 1).

The trend suggests that the rate of growth is moderating, and while this will not be uniform across Australia, it is the more likely outcome in the Sydney and Melbourne property markets where the highest growth rates have been achieved.

Graph 1 – Australian Trend

While most of our major markets achieved good growth in the last 12 months, there were exceptional standouts at a suburb level in each major area.

The below tables provide the top two capital growth performers in the last year for each major market.

Table 2 – Top Growth Performers, Houses

Table 3 – Top Growth Performers, Units

 



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John Edwards

About

John is Consulting Analyst for Onthehouse, Australia’s most comprehensive real estate portal, and Founder of Residex, a leading Australian research organisation providing quality information on the real estate market to government, financial institutions, valuers, real estate agents, accountants, solicitors and the general public. Visit www.OnTheHouse.com.au/


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