House Price

<html><body>
GUEST OBSERVER
The CoreLogic Home Value Index of capital city home prices rose by 1.4 percent in March and was up 12.9 percent over the year.
Prices rose in all eight capital cities with Canberra and Darwin up the most (up 3.1 percent). Regional house prices by 0.8 percent in February (latest available).
Manufacturing: The Performance of Manufacturing index eased from 15-year highs, down by 1.8 points to 57.5 in March. A reading above 50.0 indicates that the sector is expanding. This was the sixth consecutive month of expansion.
Home price data is important for retailers, especially those focussed on consumer durables. The manufacturing data provides guidance for companies in the Industrials sector.
What does it all mean?
The economic data has certainly started off the week on a healthy footing. Stronger home prices in March while manufacturing activity barely eased from 15 year highs.
It may be no surprise to see that home prices continue to lift across most capital cities. But what was clearly surprising was the magnitude of the lift in prices. Probably even more surprising was that home prices rose in all eight capital cities. Across the nation home prices rose by a substantial 1.4 per cent in March, matching a similar result in February and December 2016.
In fact over the four months to March home prices have accelerated by 4.9 percent – the strongest four-month period in 18 months.
Across the capital cities, it was encouraging that Darwin and Hobart featured heavily when it came to the strength in home prices as opposed to Sydney and Melbourne.
Interestingly the key resource states saw a rebound in home prices, although annual growth remained weak. The sustained lift in commodity prices may help to alleviate some of the weakness in home prices in coming months.
Overall policymakers will keep a close eye on the housing sector in the early part of 2017, and will prefer to see more balanced house price growth across the nation. In particular, a lift in regional house prices would be a positive outcome. Annual growth in home prices across regional centres was a healthier 4 per cent over the past 12 months.
Click to enlarge
<img src="https://www.urban.com.au/images/2017/04/03/Screen%20Shot%202017-04-03%20at%2011.45.04%20AM.png" alt="">
What do the figures show?
Home prices
The CoreLogic Home Value Index of capital city home prices rose by 1.4 per cent in March and was up 12.9 per cent over the year.
In regional Australia, house prices rose by 0.8 per cent in February and were just 4 per cent higher than a year ago. (Regional prices cover just houses and data is up to the end of February). 
In capital cities, house prices rose by 1.5 per cent in March while apartment prices rose by 0.9 per cent. House prices were up 13.4 per cent on a year ago and apartments were up by 9.8 per cent.
The average Australian capital city house price (median price based on settled sales over quarter) was $613,000 and the average unit price was $512,200.
Dwelling prices rose in all eight capital cities in March: Hobart (up 3.1 per cent), Darwin (up 3.1 per cent), Melbourne (up 1.9 per cent), Canberra (up 1.4 per cent), Sydney (up 1.4 per cent), Perth (up 1 per cent), Adelaide (up 0.4 per cent) and Brisbane (up 0.2 per cent).
Home prices were higher than a year ago in six of the eight capital cities. Prices rose most in Sydney (up 18.9 per cent); followed by Melbourne (up 15.9 per cent), Canberra (up 12.8 per cent); Hobart (up 10.2 per cent); Adelaide (up 3.4 per cent); and Brisbane (up 3.7 per cent). Prices fell in Perth (down by 4.7 per cent) and Darwin (down 4.4 per cent)
Total returns on capital city dwellings rose by 16.7 per cent in the year to March with houses up 17.1 per cent on a year earlier and units up 14.3 per cent.
Performance of Manufacturing
The Performance of Manufacturing index fell from 15-year highs, down by 1.8 points to 57.5 in March. A reading above 50.0 indicates that the sector is expanding. This was the sixth consecutive month of expansion.
AIG notes “All seven activity sub-indexes in the Australian PMI® expanded in March (seasonally adjusted). Expansions in new orders (62.6 points) and sales (57.7 points) strengthened. Production expanded while slowing from more robust growth last month (57.6 points) as did employment (54.1 points). Deliveries (52.9 points) and exports (51.1 points) eased to more modest growth, while inventories turned up in March (55.5 points).”
<a href="https://www.propertyobserver.com.au/images/2017/04/03/Screen%20Shot%202017-04-03%20at%2011.45.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/03/Screen%20Shot%202017-04-03%20at%2011.45.46%20AM.png" alt="">
“Comments from manufacturers in March indicate that demand continues to recover. Positive factors for demand include: higher prices for coal and other commodities; large infrastructure projects; the NBN rollout; stronger defence spending and stronger activity in the agricultural sector. Energy prices (particularly electricity) continue to play havoc with manufacturers. Concerns about energy pricing and security of supply are eroding profitability and confidence. Other input prices are increasing (including steel prices), which is putting manufacturers’ margins under further pressure. Export growth appear to be easing off for some manufacturers, compared to the strong surge of exports seen in 2016.”
What is the importance of the economic data?
  The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.
  The Australian Industry Group compiles the Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge. The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading. The key ‘forward looking’ components are orders and employment.
What are the implications for interest rates and investors?
  Activity in the manufacturing sector is encouraging, especially the lift in new orders that has been identified in recent months. All the published data and anecdotes indicate that business conditions have markedly improved since the flat spot recorded for the economy in mid-2016.
  Investors are once again driving key housing markets such as Sydney and Melbourne. But there are more risks, with investors relying on expected capital appreciation for returns on their investment rather than rising rents. More apartments are being built, supply will catch up to demand and growth of home prices will ease over the next few years. Investors need to be aware of the risks including recent actions by regulators to slow housing demand.
  The broad-based health of Australian housing markets reduces the potential for further rate cuts. While fixed- term lending rates have lifted, it is still too early to canvas possible rate hikes from the Reserve Bank. 
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
</body></html>

jchancellor-FAypfDUnLy

Home prices accelerate: Savanth Sebastian

<html><body>
GUEST OBSERVER
The RBA left its cash rate unchanged at 1.50 percent, as expected.
The post- meeting statement noted that 'having eased monetary policy at its May and August meetings, the Board judged that holding the stance of policy unchanged would be consistent with sustainable growth in the economy and achieving the inflation target over time'. Much of the rest of the statement was very similar to last month.
The RBA seems content with the current stance of policy and we see this as unlikely to change any time soon. Tomorrow's Q2 GDP print will now be in focus, with timely partial indicators, released earlier today, suggesting some upside risk to our forecast for GDP growth of 3.2 percent y-o-y. Our central case has the RBA keeping its cash rate steady at 1.50 percent in coming quarters.
Facts
The RBA held its cash rate steady at 1.50 percent, as expected by all of the surveyed economists in the Bloomberg survey. Just prior to the decision the market was pricing a 2 percent chance of a 25bp cut.
Implications
Having delivered 50bp of cuts in the past four months, it was no surprise that the RBA held its cash rate steady today. With little more to say about the situation than that, the RBA's post-meeting statement was very similar to last month's.
As they pointed out, 'low interest rates have been supporting domestic demand and the lower exchange rate since 2013 is helping the traded sector'. In short, loose financial conditions are rebalancing growth in the economy. At the same time, 'inflation remains quite low', but the Board are of the view that the current stance of policy is 'consistent with ... achieving the inflation target over time'.
On the AUD, the RBA exercised its 'free lunch option' by stating that 'an appreciating exchange rate could complicate [the rebalancing of growth]'. There is no cost to the RBA in stating this. However, importantly, the RBA is not suggesting that the current level of the exchange rate is a worry.
On the established housing market, they continue to believe (as do we) that the housing price boom is over. While some measures show continued strong housing price growth, most are showing a slowdown and this easing in housing price growth is consistent with weaker new housing loan approvals and housing credit growth.
The focus now shifts to tomorrow's Q2 GDP print. Partial indicators, on balance, suggest some upside risk to our forecast for already above-trend growth of 3.2 percent y-o-y. Our central case sees strong growth driving further gradual improvement in the labour market, with wages growth stabilising and gradually climbing through 2017, supporting underlying inflation. With this in mind, our central case sees the RBA on hold in coming quarters. 
 <a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC. 
</body></html>

The housing price boom is over: HSBC's Paul Bloxham

<html><body>
<div>The ONS released its latest data in the UK which showed that inflation or CPI has dug in obdurately at zero year-on-year (a 0.4 reading drops off next month too, so we could be heading negative), suggesting that interest rate hikes are as far as way as they ever were, even after seven years at the effective zero lower bound.</div>
<div> </div>
<div>The latest house prices indices from the ONS for July 2015 showed prices rising over the past year in England (+5.6%) with the mix-adjusted average house price in England rising to an all-time high of £299,000.
</div>
<div> House prices in England have busted through record highs and are now +19.1% from their pre-downturn peak of January 2008 in seasonally adjusted terms.</div>
<div> </div>
<div>By comparison growth over the past year has been flat in Wales (+0.3%) and negative in Scotland (-1.3%), while house prices in Northern Ireland remain a whopping -42.3% below their crazy August 2007 peak levels in seasonally adjusted terms. Woosah.</div>
<div> </div>
<div><a href="/images/2015/09/17/UK2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/17/UK2.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
London house prices continued to power on to a new high of £525,000 (not seasonally adjusted), while annual price gains have been driven largely by the areas immediately surrounding London, namely the East (+8.3%) and the South East (+6.7%) of England. 
</div>
<div> </div>
<div><a href="/images/2015/09/17/UK1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/17/UK1.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>In short, since the January 2008 peak if you've owned property in London (+46.2% in seasonally adjusted terms), or in nearby cities such as Cambridge or Oxford, then you have continued to do exceptionally well. </div>
<div> </div>
<div>House prices in seasonally adjusted terms are also up reasonably strongly in the areas surrounding London such as the South East (+20.0%) and East (+18.8%) since the preceding January 2008 peak.</div>
<div> </div>
<div>Elsewhere prices are now rising again but in real terms are generally well below previous peaks, although in nominal terms 7 of the 9 regions have finally recovered to hit new highs.</div>
<div> </div>
<div><a href="/images/2015/09/17/HPI.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/17/HPI.jpg" alt=""></div>
<div> </div>
<div>At a national level the UK house price index sits at 216.9 which is +16.9% higher than the pre-downturn peak of 185.5 seen in January 2008, with London and the South East accounting for the bulk of the increase. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
</body></html>

pwargent-M4siyDbqQY

England house prices power on: Pete Wargent

<html><body>
Enter housing price growth into the topic although make sure if you want to be right that you always select the plural.
For example, those in the real estate industry always focus on suburban or post code housing price growth. What we are reading now are housing price growth predictions of significant drops for Sydney and Melbourne which just so happen to be Australia’s largest and most active markets.
Allow me to put this into perspective given most have failed miserably in educating readers as to what exactly this means. Let’s say for the sake of this argument you own a house in Mosman – in six months’ time the value of your home will in all probability have gone up due to record low stock levels. However, if you had recently acquired an investment off – the – plan apartment, in six months’ time that would have definitely dropped well below the purchase price.
Recently we learnt that the Australian banks are no longer lending to foreign buyers and many areas across Sydney have now been black listed from obtaining any loans due to a significant oversupply of property. We need to bear in mind that whenever we see major price adjustments to real estate this can only happen when you have an acute oversupply.
The final nail in the housing investment market was delivered this week in the NSW budget when stamp duty payable by foreign buyers would be hit with a new four (4) per cent surcharge. On top of that they will also be hit with an additional 0.75 per cent land tax surcharge on residential real estate. If ever these tens of thousands of foreign buyers needed a reason to walk away from their deposits they certainly have one now.
To add further confusion to this potential housing catastrophe nobody can answer does this surcharge apply to those investors who have already paid their deposit and are yet to pay stamp duty? If history is anything to go by then you would say confidently that it does. The major lenders would be hoping that it does as they would be hoping that many of their new lending clients walk away from their deposits as that significantly reduces their exposure. Although this can be a double whammy if they are also funding the developer – so this is the double – edged property sword.
We should also clean up some incorrect speculation from commentators that this new surcharge will have a significant effect on home prices too. Well it won’t because these foreign buyers can only buy off – the – plan so it won’t play any part in the established housing markets.
One would have to say that the new surcharges will be a total failure although it is disappointing that the NSW government did absolutely no due diligence with what the long term effect would be on the housing markets other than to drive the investment real estate markets values down. The tax that should have been brought down was a tax against those investors who land bank because they would make plenty from that given a large percentage of foreign buyers leave these properties vacant.
The NSW government would be very concerned that stamp duty received from the established property markets is in significant decline although there is no mention of that as all the revenue has arrived thanks to a robust investment market, hence the new surcharge. Should the new surcharge tax turn out to be a dismal failure which I believe it will then the NSW government will be forced into hopefully a complete review of property taxes.
Everyone in the real estate industry knows full well that the reason for record low stock levels is entirely due to home owners baulking at paying exhorbitant stamp duty, so instead they are renovating. One day the NSW government will explore a broad based land tax paid annually by home owners as a logical replacement to stamp duty with Australian residents receiving a discounted rate.
One would think by now that policies on the run are usually always met with disaster where the last example was the failed and now abolished mining tax.
MOSMAN – 2088
Number of houses on the market this time last year – 55
Number of houses on the market last week – 51
Number of houses on the market this week – 48
Number of apartments on the market this time last year – 66
Number of apartments on the market last week – 41
Number of apartments on the market this week – 41
CREMORNE – 2090 
Number of houses on the market this time last year – 13
Number of houses on the market last week – 10
Number of houses on the market this week – 13
Number of apartments on the market this time last year – 11
Number of apartments on the market last week – 18
Number of apartments on the market this week – 18
NEUTRAL BAY – 2089 
Number of houses on the market this time last year – 3
Number of houses on the market last week – 8
Number of houses on the market this week – 7
Number of apartments on the market this time last year – 29
Number of apartments on the market last week – 19
Number of apartments on the market this week – 19
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
</body></html>

robertsimeon-hRNTwJyXkQ

Home truths needed on housing debate: Robert Simeon

<html><body>
 After CoreLogic recently reported a median house price of $835,000 in Sydney, Property Observer went searching for what that got.
Starting at the lower range of the median price, $825,000 will comfortable purchase a six-bedroom, four-bathroom house on Lot 9, <a href="https://www.realestate.com.au/property-house-nsw-jordan+springs-123144814" target="_blank">Lakeside Parade in Jordan Springs</a> (above) in Sydney’s greater west, due to be completed in December. The offer is stamp-duty free. 
Keeping in Sydney’s western suburbs, $835,000 will also purchase a four-bedroom, two-bathroom, single-storey house on <a href="https://www.realestate.com.au/property-house-nsw-caddens-123373594" target="_blank">77 Barnea Avenue, Caddens</a> (below). The brand new house is located on a 410 square metre block of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.02.41%20PM.png" alt=""> 
The median price will also purchase a four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-emu+plains-123305666" target="_blank">69 Brougham Street, Emu Plains</a> (below). The luxury house was built by ZAC Homes. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.03.48%20PM.png" alt=""> 
Still within the median price range, a three-bedroom, one-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-toongabbie-123361826" target="_blank">36 The Crescent in Toongabbie</a> (below). The newly renovated home has a low-maintenance yard which features a veggie patch. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.05.06%20PM.png" alt="">
The five-bedroom, three-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-st+clair-122954230" target="_blank">5 Tulloch Place, St Claire</a> (below) was recently sold for between $839,950 and $879,950. The newly renovated house sits on 672 square metres of land.
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%206.06.58%20PM.png" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

What the $835,000 median house price gets in Sydney

<html><body>
The Sydney property boom of the past three years is over, with the harbour city now reporting a sharp decline in house prices over the last quarter. All other Australian capital cities have reported moderate to strong house price growth, except Perth and Darwin which both experienced weakening market activity  The key findings of the Domain.com.au December Rental Report are: 
<ul>
<li>Record drop in Sydney median house prices over the December quarter </li>
<li>Melbourne and Canberra record highest annual house price growth since 2009  </li>
<li>Adelaide, Hobart and Brisbane record stronger house price growth  </li>
<li>House price falls in Perth steadying, while Darwin housing market remains weak </li>
</ul>
Commenting on the report, Domain Senior Economist Dr Andrew Wilson, said:  “The higher mortgage interest rates initiated mid-year by financial regulators for both investors and owner-occupiers have demolished the previous booming markets of Sydney and Melbourne, whilst house prices continued to fall in Perth and Darwin as a consequence of the slowdown in the mining sector. “Other capital city markets, however, are now recording solid results, reflecting improving local economies and restored market confidence.” Sydney  Sydney median house prices fell by a dramatic 3.1 per cent over the December quarter – the first fall since June 2012 and the sharpest quarterly decline in house prices reported by the city on record. Despite the record fall over the December quarter, Sydney house prices increased by 14.8 per cent over 2015. Sydney’s median unit prices also fell steeply over the December quarter, dropping by 2.8 per cent to $655,845. It’s the first quarterly fall since March 2013 and again, the sharpest decline on record. However across the year, Sydney unit prices increased by 8.7 per cent. “The remarkable Sydney boom we’ve seen over the last three years is now clearly over, with the market unlikely to record any notable house prices growth until at least spring. While the median house price still remains above $1 million (at $1,013,258), if current trends continue it will likely fall below this benchmark by mid-year,” said Domain Senior Economist, Dr Andrew Wilson.  Melbourne  The Melbourne median house price increased by 1.8 per cent over the December quarter, recording an annual growth of 14.5 per cent over 2015 – the highest annual result recorded by the city since the 2009 boom and reaching only 0.3 per cent behind Sydney. Melbourne unit prices increased by 1.3 per cent over the December quarter to $446,046 for an annual increase of 2.4 per cent. While a positive result overall, the annual percentage growth was considerably below the previous year’s result of 5.2 per cent.  “It’s good news for Melbourne home owners, with the city recording its highest annual growth since 2009. While quarterly growth rates have weakened sharply, the end-of-year results remained positive as local supply and demand drivers remain robust. Melbourne recorded a median house price of $719,486 over the quarter to remain the second highest priced capital city housing market, behind Sydney,” said Domain Senior Economist, Dr Andrew Wilson. Brisbane  Brisbane house prices bounced back over the December quarter with the median house price increasing by 1.5 per cent to reach $511,361– up on the 0.7 per cent recorded over the previous quarter and the highest result for the year.  Brisbane unit prices fell again over the December quarter down by 1.1 per cent to $359,965.  Local unit prices were down by 5.3 per cent over 2015 – the sharpest decline in annual prices since 2000 – 15 years ago.  “It’s a positive result for Brisbane house owners, with the median house price recording its highest quarterly growth for the year.  “Unfortunately for unit owners, the record levels of new apartments continue to impact the Brisbane unit market, with supply clearly pushing ahead of demand. This has contributed to a fall in unit prices across the city,” said Domain Senior Economist, Dr Andrew Wilson. Adelaide The Adelaide housing market reported another solid result over the December quarter with the median house price increasing by 1.8 per cent to $494,284. The Adelaide median house price increased by 6.7 per cent over 2015, its best annual result since 2007.  Adelaide unit prices increased strongly by 3.0 per cent over the December quarter to $310,090. Unit prices rose by 5.2 per cent over the year - the highest annual growth rate since 2008. “It’s a positive story for Adelaide home owners with the city recording  five consecutive quarters of house price growth for the first time since the boom period of 2010. With growth continuing at it’s current pace it is highly likely that the median house price will break through $500,000 by mid-year,”  said Domain Senior Economist, Dr Andrew Wilson. Perth Perth house prices have been declining for four consecutive quarters but there may be some relief in sight, with the decline recorded this quarter at a marginal  0.8 per cent, for a median price of $585,369. The Perth median house price is now the lowest recorded by the city since the March quarter 2013, with prices falling by 4.5 per cent over 2015 – the sharpest annual decline since 2008. Perth unit prices rebounded over the December quarter rising by 1.5 per cent to a median of $388,834. Similar to house prices, Perth unit prices fell by 5.0 per cent over 2015 – the sharpest annual decline since 2011. “Although Perth’s median house price continues to fall as a result of the declining mining sector, it’s not all bad news. There are early signs suggesting that the rate of decline is moderating, as affordability improves and confidence recovers,” said Domain Senior Economist, Dr Andrew Wilson. Hobart Hobart house prices increased strongly over the December quarter — up by 7.9 per cent to a median of $359,837 – the highest quarterly growth rate for over a decade. The December surge in house prices has resulted in an increase of 8.7 per cent over 2015 — the highest annual result for the local market since 2009.  Although Hobart unit prices fell by 3.3 per cent over the December quarter, they increased by 7.1 per cent over 2015 to a median of $268,401.  “The Hobart housing market delivered a strong result in the December quarter, especially given Hobart house prices have increased by just 5.8 per cent over the past 5 years. This indicates further potential for growth as the local economy improves and positive consumer sentiment builds,” said Domain Senior Economist, Dr Andrew Wilson.  Canberra Canberra’s median house price increased by 4.3 per cent over the December quarter to $652,307 – its highest quarterly growth rate since December 2009. It’s a great result for the capital’s housing market, which has seen a median house price increase of  9.0 per cent overall in 2015. The Canberra unit market also experienced positive growth recording a modest increase of 0.8 per cent over the December quarter to reach a median unit price of $405,110. Despite December’s small rise, Canberra median unit prices fell by 2.2 per cent over 2015.  “A really good story in Canberra this quarter, with the local market continuing to rise after a subdued period of buyer activity. Canberra’s house price growth of 9.0 per cent over the year is behind only that of the Sydney and Melbourne markets and is the best local annual result since 2009. “The fall of unit prices across 2015 demonstrates the high levels of new apartment construction predictably moving supply ahead of demand in the Canberra market,” said Domain Senior Economist, Dr Andrew Wilson.  Darwin Darwin house prices fell again over the December quarter, dropping by 2.0 per cent to reach $636,854.  Despite recent sharp falls, the Darwin median house price has fallen by just 1.0 per cent over the past year, an improvement on the previous year’s decline of 5.4 per cent. Darwin unit prices fell slightly over the December quarter — down by 0.4 per cent to reach a median of $407,132. Unit prices decreased by 2.0 per cent over 2015 which was an improvement on the previous year’s fall of 6.5 per cent.  “While the local economy remains strong, the Darwin housing market continues to be impacted by the decline in the resource economy and the end to the significant demand driver of the fly-in-fly-out mining workforce. Darwin unit prices are now the lowest since June 2012, reflecting the oversupply from record levels of apartment construction,” said Domain Senior Economist, Dr Andrew Wilson. 
</body></html>

po-LsXgBTHBmX

Melbourne almost overtakes as Sydney's three-year property boom is over: Domain's House Price Report

<html><body>
The latest household sector chart pack from the Reserve Bank of Australia shows Sydney housing price growth well above the nation, especially over the last four years.
Regional sales had the lowest price growth between 2007 and 2015.
 
<a href="/images/2015/08/13/Screen%20Shot%202015-08-13%20at%2011.26.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/13/Screen%20Shot%202015-08-13%20at%2011.26.06%20AM.png" alt="">
</body></html>

House Price

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

House Price

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News