Over the last 20 financial years there have only been two years in which combined capital city dwelling values have fallen.
That latest data has just been released by CoreLogic on combined capital city dwelling growth over the 2016/17 financial year. The combined capital city dwelling values increased 9.6% which was higher than the previous 2015/16 financial year where it was 8.3%.
The combined capital city dwelling prices have increased over the past five consecutive financial years and only in 2010/11 they retracted 1.4% and in 2011/12 they retracted 3.6%. These, according to CoreLogic, are the only two years out of the past 20 financial years that combined capital city dwelling values have fallen.
See below the break down State by State:
Sydney
Dwelling values increased by 12.2% over the past year and it was the fifth successive year in which values rose. Value growth was slightly higher than the 11.3% over the previous financial year.
Source- CoreLogic
Melbourne
Values have now increased for five successive financial years with each of those years progressively seeing a faster rate of value growth. Over the past year, values increased by 13.7% which was their greatest increase over a financial year since 2009-10.
Source- CoreLogic
Brisbane
A 2.0% increase in values over the past financial year was down on the 5.3% the previous year. Brisbane values have increased over each of the past five years however, last year was the slowest rate of growth since 2012-13.
Source – CoreLogic
Adelaide
The 2.4% rise in values over the past year eclipsed the 2.1% increase the previous year and marked the fifth consecutive financial year in which values increased.
Source – Corelogic
Perth
Dwelling values have fallen over each of the past three financial years however, the rate of decline has slowed from -4.7% in 2015-16 to -1.3% in 2016-17. At no other time over the past 20 years have values fallen over three successive financial years in Perth.
Source – CoreLogic
Hobart
The 6.8% increase in dwelling values over the past financial year was the greatest increase in values over a financial year since they rose by 8.5% in 2005-06.
Source – CoreLogic
Darwin
Dwelling values have fallen for three successive financial years. The -7.0% fall in values over the year was the largest annual decline since values fell by -12.6% over the 2010-11 financial year.
Source – CoreLogic
Canberra
Values rose by 9.6% over the last financial year which was the greatest rise in values over a financial year since 2009-10 when values increased by 13.3%.
Source – CoreLogic
Summary
Sydney has recorded 12.2% capital growth over the last financial year and Melbourne 13.7% capital growth over the same period.
If you are a savvy property investor and looking for the market with the most potential for an upswing in home values over the next 3-5 years, Perth and Brisbane should be on your radar right now. Brisbane has been bubbling along with moderate growth over the past five years and has billions of dollars of infrastructure planned or in construction phase creating jobs and an increase in population growth.
The Perth market has seen three consecutive years of negative growth and now right at the bottom with an upward swing predicted for the 2017/18 financial year and beyond. Perth is now a buyers market and with Sydney & Melbourne markets rapidly slowing down you will see investor demand shift towards Brisbane and Perth where the median house price is substantially lower than that of Sydney and Melbourne.
All our clients at Curtis Property Group have started their financial success with a one on one “Rapid Property Growth Call” to establish what has meaning to them financially and then we tailor a suitable game plan to achieve financial security.
If you require clarity about your financial future register for your complimentary call right here and our team will be in contact within 24 hours.
Like us on Facebook to receive premium content and stay upto date with the latest and most effective investment strategies available to you today.
Click Here To Follow Us On Facebook >
