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Thursday, 1 December 2016

Sydney home values up 14.4pc this year

While Australian share markets continue to dither at nearly 20 per cent where they were fully a decade ago, Sydney home values were up by another +14.4 per cent over the first 11 months of the year.

No wonder so many investors have given up on Aussie shares with such consistently dismal returns. 

Over the last quarter capital growth has rotated towards units in Sydney (+2.9 per cent), although quarterly house prices were still up by +2.3 per cent to be a strong +15.3 per cent higher over the year to date. 

Melbourne home values were up by a similarly robust +11.3 per cent over the past year.

Look a bit more closely, though, and you may note that Melbourne unit values were reported as being down by -1.1 per cent over the past quarter following a weak monthly result.

Brisbane & Gold Coast home values were up a steadier +4.7 per cent year-on-year, having increased by +1.5 per cent over the quarter.

Across Australia's 8 capital cities, home values were +9.3 per cent higher than a year ago.

I've noted here on several occasions that Darwin's housing market rather surprisingly seems to be finding a base, and indeed Darwin dwelling prices now moving into the black again to be up by +1.1 per cent.  

Source: CoreLogic

The full report from CoreLogic can be downloaded here