July 2016 Property Investment Data

July 2016 Property Investment Data

Housing Market Update

Our Finance Partner, Smartline Bella Vista, recently sent us a July 2016 Housing Market Update across the Capital Cities. In this report, CoreLogic Research Director Tim Lawless presents for Smartline this latest Housing and Economic Data. Here are some of the key points:

• The pace of growth slowed in recent months yet while there is still economic growth there are elements missing from the complete picture.
• 5 out of the 8 capital cities in Australia recorded a drop in the dwelling values of properties. Declines of more than 1% were seen in Darwin, Adelaide and Hobart while cities like Perth and Brisbane had a less severe drop.
• Dwelling values in Sydney, Melbourne and Hobart conversely grew 1.2%, 0.8% and 1.8% respectively.
• The Year to date growth figure for Capital cities in Australia in 2016 is at 5.5% compared to a marginally lower growth rate across the same period in 2015 (5.1% growth).

Rental Market

• While home values continue to rise rental markets are experiencing a vastly different scenario.
• Over the last 12 months (up to June 2016) Capital city rents have fallen 0.6% which is the largest drop ever recorded).
• Outliers to this are Melbourne, Canberra and Hobart who saw a reasonable increase in rental properties while the other 5 capital cities saw rental prices drop with the largest declines being in Darwin (12.9% drop) and Perth (8.7% decrease).

You can view the full video to find out more by clicking on the image below:

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