August Housing Market Update

August Housing Market Update

Posted on August 24, 2017 by Mirren Property Investment

Our Finance Partner, Smartline Bella Vista, recently sent us the August 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:

Housing Market Update Key Statistics

SYDNEY

  • Dwelling values in Sydney have risen 12.4% over the last 12 months
  • The gross rental yield for houses is 2.7% and 3.7% for units in Sydney
  • Median house price in Sydney sits at $1,000,100 for houses and $740,000 for units over the last 3 months
  • A property spent an average of 34 days on the market in 2017 compared to 40 days on the market in 2016, a decrease of 6 days

MELBOURNE

  • Dwelling values in Melbourne have risen 15.9% over the last 12 months
  • The gross rental yield for houses is 2.6% and 4.0% for units in Melbourne
  • Median house price in Melbourne sits at $740,000 for houses and $530,000 for units over the last 3 months
  • A property spent an average of 31 days on the market in 2017 compared to 35 days on the market in 2016, a decrease of 4 days

BRISBANE

  • Dwelling values in Brisbane have risen 2.2% over the last 12 months
  • The gross rental yield for houses is 4.1% and 5.2% for units in Brisbane
  • Median house price in Brisbane sits at $528,000 for houses and $392,000 for units over the last 3 months
  • A property spent an average of 60 days on the market in 2017 compared to 51 days on the market in 2016, an increase of 9 days

ADELAIDE

  • Dwelling values in Adelaide have risen 2.1% over the last 12 months
  • The gross rental yield for houses is 3.9% and 4.6% for units in Adelaide
  • Median house price in Adelaide sits at $452,500 for houses and $386,500 for units over the last 3 months
  • A property spent an average of 49 days on the market in 2017 compared to 52 days on the market in 2016, a decrease of 3 days

PERTH

  • Dwelling values in Perth have fallen -2.1% over the last 12 months
  • The gross rental yield for houses is 3.6% and 4.0% for units in Perth
  • Median house price in Perth sits at $498,200 for houses and $400,000 for units over the last 3 months
  • A property spent an average of 72 days on the market in 2017 compared to 70 days on the market in 2016, an increase of 2 days

HOBART

  • Dwelling values in Hobart have risen 6.5% over the last 12 months
  • The gross rental yield for houses is 5.1% and 5.6% for units in Hobart
  • Median house price in Hobart sits at $368,800 for houses and $275,300 for units over the last 3 months
  • A property spent an average of 35 days on the market in 2017 compared to 73 days on the market in 2016, a decrease of 38 days

DARWIN

  • Dwelling values in Darwin have fallen -2.1% over the last 12 months
  • The gross rental yield for houses is 5.1% and 4.1% for units in Darwin
  • Median house price in Darwin sits at $506,200 for houses and $460,000 for units over the last 3 months
  • A property spent an average of 79 days on the market in 2017 compared to 89 days on the market in 2016, a decrease of 10 days

CANBERRA

  • Dwelling values in Canberra have risen 12.9% over the last 12 months
  • The gross rental yield for houses is 4.0% and 4.9% for units in Canberra
  • Median house price in Canberra sits at $683,000 for houses and $440,000 for units over the last 3 months

A property spent an average of 50 days on the market in 2017 compared to 56 days on the market in 2016, a decrease of 6 days

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