Powered by MOMENTUM MEDIA
subscribe to our newsletter

Housing stats put 'boom' talk in context

Boom conditions in Sydney and Melbourne have concealed price falls in the rest of Australia during the past five years.

A new research paper from the Housing Industry Association has taken a big-picture view of Australia’s housing markets and emphasised the different conditions in each capital city.

Sydney prices have grown by 19.3 per cent in real terms between 2010 and 2014 – however, they have grown by only 16.0 per cent in real terms between 2005 and 2014.

Melbourne values have increased by 6.7 per cent over five years and by 41.6 per cent over 10 years.

Prices have fallen in real terms in Australia’s other capital cities during the past five years, although Hobart has been the only city to have recorded a fall during the past 10 years.

Advertisement
Advertisement

Brisbane prices have fallen 12.3 per cent since 2010 but risen 7.6 per cent since 2005.

Perth values have declined 5.4 per cent since 2010 but jumped 43.6 per cent since 2005.

Adelaide has experienced a 6.7 per cent drop in real terms during the past five years although that has been offset by an 11.6 per cent gain in real terms during the past decade.

Hobart prices have slipped 18.0 per cent since 2010 but only 7.0 per cent since 2005.

Darwin values have fallen 6.6 per cent during the past five years but surged 57.0 per cent since 2005.

PROMOTED CONTENT


Canberra is down 2.8 per cent during the past five years but up 8.6 per cent during the past decade.

The Housing Industry Association said the statistics show that there is more to Australia than just its two biggest cities and that it is misleading to talk about a national price boom.

Housing stats put 'boom' talk in context
mortgagebusiness

Latest News

The chief of Australia’s largest bank has said lenders should act pre-emptively and shift their floor rates for mortgage serviceability am...

Total household wealth reached a high of $13.4 trillion in the June quarter, primarily due to rising property prices, according to the Aust...

The property exchange settlement platform has been granted approval to establish an Electronic Lodgement Network in the ACT.  ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

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