September 2016 Housing Update

September 2016 Housing Update

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 9.4% 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 $880,000 for houses and $665,000 for units over the last 12 months
• A property spent an average of 25 days on the market in 2015 compared to 39 days on the market in 2016, an increase of 14 days or 64% longer

Melbourne

• Dwelling values in Melbourne have grown 9.1% over the last 12 months
• The gross rental yield for houses over the past year is 2.8% for houses and 4% for units in Melbourne
• Median house prices in Melbourne sit at $635,000 for houses and $480,000 for units over the last 12 months
• A property spent an average of 36 days on the market in 2015 compared to 37 days on the market in 2016, an increase of a day

Brisbane

• Dwelling values in Brisbane have risen 4.4% 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 $515,000 for houses and $390,000 for units over the last 12 months
• A property spent an average of 49 days on the market in 2015 compared to 57 days on the market in 2016, an increase of 8 days

Adelaide

• Dwelling values in Adelaide have risen 3.1% over the last 12 months
• The gross rental yield for houses over the past year is 4.0% for houses and 4.7% for units in Adelaide
• Median house prices in Adelaide sit at $445, 000 for houses and $375,000 for units over the last 12 months
• A property spent an average of 56 days on the market in 2015 compared to 55 days on the market in 2016, a decrease of a day

Perth

• Dwelling values in Perth have fallen 4.2% over the last 12 months
• The gross rental yield for houses over the past year is 3.7% for houses and 4.4% for units in Perth
• Median house prices in Perth sit at $500,000 for houses and $390,000 for units over the last 12 months
• A property spent an average of 63 days on the market in 2015 compared to 74 days on the market in 2016, an increase of 11 days

Hobart

• Dwelling values in Hobart have risen 6.5% over the last 12 months
• The gross rental yield for houses over the past year is 5.2% for houses and 5.4% for units in Hobart
• Median house prices in Hobart sit at $320, 000 for houses and $273,000 for units over the last 12 months
• A property spent an average of 75 days on the market in 2015 compared to 66 days on the market in 2016, a decrease of 9 days

Darwin

• Dwelling values in Darwin have dropped 4.2% over the last 12 months
• The gross rental yield for houses over the past year is 5.2% for houses and 4.1% for units in Darwin
• Median house prices in Darwin sit at $549, 000 for houses and $401,000 for units over the last 12 months
• A property spent an average of 79 days on the market in 2015 compared to 108 days on the market in 2016, an increase of 29 days

Canberra

• Dwelling values in Canberra have risen 7.6% over the last 12 months
• The gross rental yield for houses over the past year is 3.9% for houses and 5.1% for units in Canberra
• Median house prices in Canberra sit at $609, 000 for houses and $420,000 for units over the last 12 months
• A property spent an average of 50 days on the market in 2015 compared to 49 days on the market in 2016, a decrease of a day

Please click the picture below to view the video in a new window and see the full September Housing Market Update.