April 2017 Housing Market Update

April 2017 Housing Market Update

Our Finance Partner, Smartline Bella Vista, recently sent us the April 2017 Housing Market Update across the Capital Cities.

In this report, CoreLogic Research Director Tim Lawless presents for Smartline this latest Housing and Economic Data.

Watch the video or read some of the key statistics below:

Sydney

• Dwelling values in Sydney have risen 18.9% over the last 12 months
• The gross rental yield for houses is 2.7% for houses and 3.7% for units in Sydney
• Median house prices in Sydney sit at $880,000 for houses and $715,000 for units over the last 12 months
• A property spent an average of 29 days on the market in 2017 compared to 59 days on the market in 2016, a decrease of 30 days

Melbourne

• Dwelling values in Melbourne have grown 15.9% over the last 12 months
• The gross rental yield for houses is 2.7% for houses and 4.0% for units in Melbourne
• Median house prices in Melbourne sit at $677,000 for houses and $482,000 for units over the last 12 months
• A property spent an average of 30 days on the market in 2017 compared to 43 days on the market in 2016, a decrease of 13 days

Brisbane

• Dwelling values in Brisbane have risen 3.7% over the last 12 months
• The gross rental yield for houses is 4.1% for houses and 5.1% for units in Brisbane
• Median house prices in Brisbane sit at $512,000 for houses and $385,000 for units over the last 12 months
• A property spent an average of 68 days on the market in 2017 compared to 58 days on the market in 2016, an increase of 10 days

Adelaide

• Dwelling values in Adelaide have risen 3.4% over the last 12 months
• The gross rental yield for houses is 4.0% for houses and 4.5% for units in Adelaide
• Median house prices in Adelaide sit at $460,000 for houses and $365,000 for units over the last 12 months
• A property spent an average of 63 days on the market in 2017 compared to 65 days on the market in 2016, a decrease of 2 days

Perth

• Dwelling values in Perth have fallen 4.7% over the last 12 months
• The gross rental yield for houses is 3.6% for houses and 4.2% for units in Perth
• Median house prices in Perth sit at $495,000 for houses and $400,000 for units over the last 12 months
• A property spent an average of 86 days on the market in 2017 compared to 79 days on the market in 2016, an increase of 7 days

Hobart

• Dwelling values in Hobart have risen 10.2% over the last 12 months
• The gross rental yield for houses is 4.9% for houses and 5.6% for units in Hobart
• Median house prices in Hobart sit at $380,000 for houses and $316,100 for units over the last 12 months
• A property spent an average of 53 days on the market in 2017 compared to 63 days on the market in 2016, a decrease of 10 days

Darwin

• Dwelling values in Darwin have dropped 4.4% over the last 12 months
• The gross rental yield for houses is 5.0% for houses and 3.6% for units in Darwin
• Median house prices in Darwin sit at $529,700 for houses and $422,500 for units over the last 12 months
• A property spent an average of 111 days on the market in 2017 compared to 116 days on the market in 2016, a decrease of 5 days

Canberra

• Dwelling values in Canberra have risen 12.8% over the last 12 months
• The gross rental yield for houses is 4.0% for houses and 5.2% for units in Canberra
• Median house prices in Canberra sit at $680,000 for houses and $420,000 for units over the last 12 months
• A property spent an average of 38 days on the market in 2017 compared to 79 days on the market in 2016, a decrease of 41 days