October 2016 Housing Market Update

October 2016 Housing Market Update

Our Finance Partner, Smartline Bella Vista, recently sent us a September 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 statistics we found broken down by capital city.

Sydney

• Dwelling values in Sydney have risen 10.2% over the last 12 months
• The gross rental yield for houses over the past year is 2.8% for houses and 3.9% for units in Sydney
• Median house prices in Sydney sit at $890,000 for houses and $675,000 for units (based on sales over the past three months)
• A property spent an average of 26 days on the market in 2015 compared to 37 days on the market in 2016, an increase of 11 days.

Melbourne

• Dwelling values in Melbourne have risen 9.0% over the last 12 months
• The gross rental yield for houses over the past year is 2.8% for houses and 4.0% for units in Melbourne
• Median house prices in Melbourne sit at $641,500 for houses and $485,100 for units (based on sales over the past three months)
• A property spent an average of 31 days on the market in 2015 compared to 3 days on the market in 2016, an increase of 6 days

Brisbane

• Dwelling values in Brisbane have risen 3.0% over the last 12 months
• The gross rental yield for houses over the past year is 4.1% for houses and 5.2% for units in Brisbane
• Median house prices in Brisbane sit at $505,000 for houses and $390,000 for units (based on sales over the past three months)
• A property spent an average of 49 days on the market in 2015 compared to 64 days on the market in 2016, an increase of 15 days

Adelaide

• Dwelling values in Adelaide have risen 6.5% over the last 12 months
• The gross rental yield for houses over the past year is 3.9% for houses and 4.6% for units in Adelaide
• Median house prices in Adelaide sit at $440,000 for houses and $351,500 for units (based on sales over the past three months)
• A property spent an average of 50 days on the market in 2015 compared to 59 days on the market in 2016, an increase of 15 days

Perth

• Dwelling values in Perth have dropped 7% over the last 12 months
• The gross rental yield for houses over the past year is 3.8% for houses and 4.3% for units in Perth
• Median house prices in Perth sit at $492,000 for houses and $410,000 for units (based on sales over the past three months)
• A property spent an average of 66 days on the market in 2015 compared to 75 days on the market in 2016, an increase of 9 days

Hobart

• Dwelling values in Hobart have risen 8.7% over the last 12 months
• The gross rental yield for houses over the past year is 5.2% for houses and 5.5% for units in Hobart
• Median house prices in Hobart sit at $349,500 for houses and $283,000 for units (based on sales over the past three months)
• A property spent an average of 70 days on the market in 2015 compared to 48 days on the market in 2016, a decrease of 22 days

Darwin

• Dwelling values in Darwin have dropped 6.0% over the last 12 months
• The gross rental yield for houses over the past year is 5.1% for houses and 4.2% for units in Darwin
• Median house prices in Darwin sit at $500,000 for houses and $440,000 for units (based on sales over the past three months)
• A property spent an average of 74 days on the market in 2015 compared to 84 days on the market in 2016, an increase of 10 days

Canberra

• Dwelling values in Canberra have risen 9.0% over the last 12 months
• The gross rental yield for houses over the past year is 4.0% for houses and 5.0% for units in Canberra
• Median house prices in Canberra sit at $625,000 for houses and $421,000 for units (based on sales over the past three months)
• A property spent an average of 50 days on the market in 2015 compared to 57 days on the market in 2016, an increase of 7 days

You can click here to see the Corelogic October 2016 Housing Market Video online.