The Value of Australian Housing Soars with NSW Homes Now Over $1 Million

By:

The value of Australian homes is soaring as record home buying activity pushes prices higher in a once-in-a-generation housing market boom.

The ABS released their latest stats today for the March quarter of this year… yes I know that’s 3 months ago.

They report that the total value of Australian housing over the March quarter increased sharply by 5.7% compared to the previous quarter, to a new record high of $8.29 trillion.

Australian home values have now increased by 13.9% over the past year – the fastest annual rate of growth on record.

March Qtr

All capitals reported increases in home values over the March quarter with NSW the top performer up by 6.4% followed by TAS up 6.3% and ACT up 6.2%.

NSW also reported the highest state average home value over the March quarter at a new record

$1,011,100 – and for the first time now over $1 million.

Although housing affordability is falling as prices surge there remains plenty of upside to price growth through 2021 – for all state markets. And the wealth effect from sharply higher home values will have a positive impact on the recovering Australian economy.

icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


About

Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.


'The Value of Australian Housing Soars with NSW Homes Now Over $1 Million' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts