June 2017 Housing Market Update

June 2017 Housing Market Update

Our Finance Partner, Smartline Bella Vista, recently sent us the June 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 11.1% over the last 12 months
• The gross rental yield for houses is 2.7% and 3.9% for units in Sydney
• Median house price in Sydney sits at $1,020,000 for houses and $742,900 for units over the last 12 months
• A property spent an average of 30 days on the market in 2017 compared to 41 days on the market in 2016, a decrease of 11 days

MELBOURNE

• Dwelling values in Melbourne have risen 11.5% over the last 12 months
• The gross rental yield for houses is 2.7% and 4.2% for units in Melbourne
• Median house price in Melbourne sits at $745,000 for houses and $525,000 for units over the last 12 months
• A property spent an average of 31 days on the market in 2017 compare to 42 days on the market in 2016, a decrease of 11 days

BRISBANE

• Dwelling values in Brisbane have risen 2.3% over the last 12 months
• The gross rental yield for houses is 4.0% and 5.3% for units in Brisbane
• Median house price in Brisbane sits at $525,000 for houses and $390,000 for units over the last 12 months
• A property spent an average of 55 days on the market in 2017 compared to 44 days on the market in 2016, a decrease of 11 days

ADELAIDE

• Dwelling values in Adelaide have risen 2.9% 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 $460,000 for houses and $365,000 for units over the last 12 months
• A property spent an average of 42 days on the market in 2017 compared to 45 days on the market in 2016, a decrease of 3 days

PERTH

• Dwelling values in Perth have fallen -3.8% over the last 12 months
• The gross rental yield for houses is 3.6% and 4.1% for units in Perth
• Median house price in Perth sits at $500,000 for houses and $405,000 for units over the last 12 months
• A property spent an average of 73 days on the market in 2017 compared to 62 days on the market in 2016, a decrease of 11 days

HOBART

• Dwelling values in Hobart have risen 5.8% over the last 12 months
• The gross rental yield for houses is 5.3% and 5.6% for units in Hobart
• Median house price in Hobart sits at $381,600 for houses and $311,500 for units over the last 12 months
• A property spent an average of 38 days on the market in 2017 compared to 50 days on the market in 2016, a decrease of 12 days

DARWIN

• Dwelling values in Darwin have fallen -6.4% over the last 12 months
• The gross rental yield for houses is 5.0% and 3.9% for units in Darwin
• Median house price in Darwin sits at $487,500 for houses and $420,000 for units over the last 12 months
• A property spent an average of 115 days on the market in 2017 compared to 112 days on the market in 2016, a decrease of 3 days

CANBERRA

• Dwelling values in Canberra have risen 5.7% over the last 12 months
• The gross rental yield for houses is 4.2% and 5.3% for units in Canberra
• Median house price in Canberra sits at $690,000 for houses and $426,000 for units over the last 12 months
• A property spent an average of 43 days on the market in 2017 compared to 58 days on the market in 2016, a decrease of 15 days

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