Houses

Area Median Value Growth Rent Sales Prediction
20 Years % p.a. Mar 10 – Mar 11 Last Quarter Last Month Rate Month Ending Mar 11 Amount Month Ending Mar 11 Year Change Year Change 3 Year % p.a. 5 Year % p.a.
ACT $537,500 7.56% 6.02% 0.01% -0.01% 4.66% $480 6.67% -3.76% 0.00% 1.00%  
Adelaide $408,500 NULL 1.72% 0.03% 0.13% 4.28% $335 4.69% -1.86% 1.00% 0.00%  
SA Country $265,500 NULL 4.04% 1.13% 1.34% 4.91% $250 4.17% -8.27% 1.00% -1.00%  
Brisbane $447,500 7.11% -2.89% -2.23% -0.66% 4.49% $385 2.67% -14.66% 6.00% 5.00%  
QLD Country $372,500 6.64% -2.68% -1.93% -0.58% 5.04% $360 2.86% -9.00% 5.00% 5.00%  
Darwin $508,000 NULL 0.97% -1.64% -1.32% 5.14% $500 -5.66% -32.55% 4.00% 5.00%  
Northern Territory $475,500 NULL 1.94% -2.03% -0.77% 5.49% $500 0.00% -29.30% 2.00% 4.00%  
Hobart $389,000 NULL 5.51% 0.42% 0.97% 4.83% $360 5.88% -17.96% 4.00% 4.00%  
TAS Country $272,000 NULL -0.91% -0.86% -0.23% 4.98% $260 4.00% -17.04% 5.00% 5.00%  
Melbourne $600,500 7.86% 6.73% 1.20% 0.42% 3.30% $380 2.70% 17.67% 2.00% 3.00%  
VIC Country $327,500 6.59% 8.51% 1.99% 1.03% 4.78% $300 7.14% 6.05% 2.00% 2.00%  
Perth $485,500 9.01% -0.27% -0.41% 1.17% 4.08% $380 0.00% -16.18% 5.00% 7.00%  
WA Country $354,000 8.55% -4.26% -1.51% 0.36% 4.86% $330 10.00% -19.97% 5.00% 7.00%  
Sydney $670,000 6.86% 4.52% -0.51% -0.61% 3.97% $510 5.15% -13.60% 5.00% 5.00%  
NSW Country $343,500 6.92% 3.27% -0.08% 0.91% 5.16% $340 13.33% -21.46% 2.00% 4.00%  
Australia $441,500 NULL 2.90% -0.55% -0.35% 4.37% $370 2.78% -7.31% 3.00% 4.00%  

Units

Area Median Value Growth Rent Sales Prediction
20 Years % p.a. Mar 10 – Mar 11 Last Quarter Last Month Rate Month Ending Mar 11 Amount Month Ending Mar 11 Year Change Year Change 3 Year % p.a. 5 Year % p.a.
ACT $418,500 7.67% 3.42% -0.86% -1.26% 5.36% $430 7.50% -6.38% -1.00% -1.00%  
Adelaide $318,500 NULL 3.15% 0.01% 0.99% 4.67% $285 3.64% -11.54% 0.00% -1.00%  
SA Country $235,000 NULL 2.74% -0.04% -0.96% 4.44% $200 11.11% -16.23% -1.00% -2.00%  
Brisbane $362,000 6.30% -1.59% -1.76% -0.96% 5.19% $360 2.86% -12.43% 1.00% 1.00%  
QLD Country $329,000 5.51% -5.22% -1.39% -1.44% 5.00% $315 5.00% -18.70% 3.00% 2.00%  
Darwin $409,500 NULL -0.65% -3.54% -0.94% 5.42% $425 -1.16% -29.44% 2.00% 4.00%  
Northern Territory $397,000 NULL 1.17% -3.30% -0.46% 5.26% $400 -4.76% -29.29% 1.00% 3.00%  
Hobart $281,500 NULL -0.56% -2.65% -1.21% 5.19% $280 5.66% -18.81% 5.00% 5.00%  
TAS Country $214,000 NULL -2.76% -5.36% -1.36% 5.12% $210 5.00% -28.86% 4.00% 4.00%  
Melbourne $456,500 7.54% 5.60% 0.63% 0.99% 4.00% $350 2.94% 8.23% 3.00% 3.00%  
VIC Country $258,500 6.07% 5.63% 0.83% -0.16% 5.05% $250 11.11% 2.33% 2.00% 1.00%  
Perth $393,000 7.64% -1.60% -1.33% -1.21% 4.78% $360 0.00% -11.50% 1.00% 1.00%  
WA Country $299,500 6.36% -6.27% -1.52% -1.79% 5.15% $295 1.72% -11.13% 3.00% 2.00%  
Sydney $479,500 6.33% 6.81% 0.45% 0.46% 4.90% $450 5.88% -14.70% 2.00% 2.00%  
NSW Country $306,500 5.44% 2.62% 1.68% 0.34% 4.68% $275 10.00% -13.65% -6.00% 0.00%  
Australia $402,000 NULL 4.48% 0.65% 0.63% 4.67% $360 2.86% -9.27% 2.00% 2.00%  

  • Melbourne continues to perform very strongly by comparison to the rest of the nation. The trend in the growth numbers defies the other statistical evidence such as a housing surplus, lower auction clearance rates and a growth in weekly rental of little more than inflation. We note that in Victoria population growth has bottomed out and housing commencements are slowing. We are inclined to a view that Melbourne may not yet be seeing the corrections which are needed before it moves into a moderate period of growth. The trend graph is provided below.
  • Brisbane has been affected by the natural disasters we have all read about. However, our numbers tell us that like Sydney it potentially has a stock shortage. Its performance was all but the poorest in Australia. The only other market to do worse was the Darwin Unit market which produced an adjustment of 3.54% for the quarter.
  • Overall he Unit market which is the domain of the investor and is significantly more affordable has faired very well. We expect this situation to continue.
  • Rental yields in the unit market in particular are becoming more attractive and there will be areas, particularly in Regional Victoria, where there is opportunity for Positive Gearing.

  • Sales activity is slowing across the nation. In some cities it is dramatic. Darwin was the most impacted upon with a decline of approximately 30%.
  • Our numbers indicate that both Sydney and Brisbane potentially have a housing stock shortage and our growth indicators and predictions indicate in the medium these two markets offer most opportunity for capital profit.

 Full details on how each state has performed can be found in the Quarterly Residex Reports, which have been released today.

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