Let’s look more closely at what’s happening in the property markets around Australia with data provided by CoreLogic.
Home values increased by 1.4% in December 2016 with values 2.7% higher over the three months to December 2016 and 10.9% through 2016
• Combined capital city home values increased by 1.4% in December 2016 with values higher across all capital cities except for Adelaide, Darwin and Canberra
• Home values were 2.7% higher over the final quarter of 2016 with Adelaide the only capital city to record a decline in values over the quarter
• Throughout the 2016 calendar year, dwelling values increased by 10.9% which was their greatest calendar year increase since 2009
• Across the individual capital cities, the annual change in home values have been recorded at +15.5% in Sydney, +13.7% in Melbourne, +3.6% in Brisbane, +4.2% in Adelaide, -4.3% in Perth, +11.2% in Hobart, +0.9% in Darwin and +9.3% in Canberra
• House values across the combined capital cities increased by 11.6% in 2016 compared to a 5.9% increase in unit values throughout the year
Residential real estate underpins Australia’s wealth and has reached a portfolio value of $6.8 trillion…