See the CoreLogic video for April 2018 which includes the latest property statistics.
There is quite a bit to digest, particularly for those who are new to investing but the short of it is that regional areas close to Melbourne and Sydney are now getting the flow on effect from the growth in the bigger cities. Brisbane is also starting it’s run, after some time with limited growth.
The unit markets of Melbourne and Sydney are also catching up in certain zones but we don’t expect Brisbane units to follow, they just can’t.
Also worth noting, the latest population data points to another reason why housing market conditions remain buoyant. The national population hasn’t grown this fast since 2013. Overseas migration is trending higher which creates additional demand for housing.
The bottom line for those who don’t have time for the video:
- Capital city values were down compared with a 1.1% lift in regional dwelling values.
- Regional markets outperforming the capital cities.
- Victoria’s Geelong recorded the highest capital gains, with dwelling values up 10%. Followed by the Southern Highlands and Shoalhaven in NWS with a rise of 9.5%.
- Sydney still shows the largest month on month declines, with dwelling values down 0.3%. Melbourne down 0.2% and Adelaide down 0.3%.
- Darwin rise up 1%, rises also recorded across the Brisbane, Perth and Canberra markets.
- Values declines across the most expensive half of the market. Most affordable end of the market continued to record a subtle rise.
- Capital city house values down 1%.
For more market opinion and strategy discussion, book in for our next OYSI event on May 21st in Melbourne or May 23rd in Sydney.