May 2017 Housing Market Update

May 2017 Housing Market Update

Our Finance Partner, Smartline Bella Vista, recently sent us the May 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 16% over the last 12 months
• The gross rental yield for houses is 2.7% for houses and 3.8% for units in Sydney
• Median house prices in Sydney sit at $990,000 for houses and $740,000 for units over the last 12 months
• A property spent an average of 29 days on the housing market in 2017 compared to 38 days on the market in 2016, a decrease of 9 days

Melbourne

• Dwelling values in Melbourne have grown 15.3% over the last 12 months
• The gross rental yield for houses is 2.6% for houses and 4.1% for units in Melbourne
• Median house prices in Melbourne sit at $735,000 for houses and $518,000 for units over the last 12 months
• A property spent an average of 29 days on the housing market in 2017 compared to 33 days on the market in 2016, a decrease of 4 days

Brisbane

• Dwelling values in Brisbane have risen 2.1% over the last 12 months
• The gross rental yield for houses is 4.0% for houses and 5.3% for units in Brisbane
• Median house prices in Brisbane sit at $514,000 for houses and $400,000 for units over the last 12 months
• A property spent an average of 53 days on the housing market in 2017 compared to 42 days on the market in 2016, an increase of 11 days

Adelaide

• Dwelling values in Adelaide have risen 2.2% over the last 12 months
• The gross rental yield for houses is 3.9% for houses and 4.5% for units in Adelaide
• Median house prices in Adelaide sit at $457,800 for houses and $368,000 for units over the last 12 months
• A property spent an average of 51 days on the housing market in 2017 compared to 53 days on the market in 2016, a decrease of 2 days

Perth

• Dwelling values in Perth have fallen 6.0% 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 $489,000 for houses and $410,000 for units over the last 12 months
• A property spent an average of 73 days on the housing market in 2017 compared to 56 days on the market in 2016, an increase of 17 days

Hobart

• Dwelling values in Hobart have risen 13.6% over the last 12 months
• The gross rental yield for houses is 4.9% for houses and 5.4% for units in Hobart
• Median house prices in Hobart sit at $385,000 for houses and $290,000 for units over the last 12 months
• A property spent an average of 35 days on the housing market in 2017 compared to 44 days on the market in 2016, a decrease of 9 days

Darwin

• Dwelling values in Darwin have dropped 2.3% over the last 12 months
• The gross rental yield for houses is 4.9% for houses and 3.7% for units in Darwin
• Median house prices in Darwin sit at $500,000 for houses and $400,000 for units over the last 12 months
• A property spent an average of 118 days on the housing market in 2017 compared to 103 days on the market in 2016, an increase of 15 days

Canberra

• Dwelling values in Canberra have risen 8.4% over the last 12 months
• The gross rental yield for houses is 4.2% for houses and 5.2% for units in Canberra
• Median house prices in Canberra sit at $690,000 for houses and $422,500 for units over the last 12 months
• A property spent an average of 35 days on the housing market in 2017 compared to 48 days on the market in 2016, a decrease of 13 days