Market Essentials - December 2019
/This Month in Review
The end of the year, and the decade, is fast approaching. Property is a long-term investment, so it’s a great time to see how it’s performed over the last ten years in major markets across Australia. According to the Australian Bureau of Statistics, median house prices in Australian capital cities ten years ago were as follows: Sydney $595,000, Melbourne $480,000, Brisbane $455,000, Perth $505,000, Canberra $525,000, Adelaide $397,500 and Darwin $520,000.
Current median house prices (along with the percentage growth or decline in market value over the last decade in brackets) are as follows: Sydney $867,000 (+45.7%), Melbourne $740,000 (+54.1%), Brisbane $555,000 (+22%), Perth $504,000 (0%), Canberra $650,000 (+23.8%), Adelaide $482,000 (+21.3%) and Darwin $450,000 (-13.5%).
As you can see, property owners in Sydney and Melbourne have been the big winners in terms of capital growth. Darwin and Perth owners have been the big losers, largely due to the end of the mining boom significantly decreasing property demand in both markets.
A comparative analysis of the All Ordinaries Index reveals that share prices have increased by 42% over the decade.
Click here for the full infographic and report.
The Market Essentials Report is compiled by Buyside on behalf of Loanscape. Founded by Josh Masters, Buyside are registered buyer's agents with on the ground expertise in the Sydney and Brisbane property markets.
