I have confined this November commentary to a short piece about our industry; primarily because many of you attended the “STATE OF THE NATION ANNUAL SUMMIT 2015” and heard first-hand much of what I am writing about.
But I will provide a few growth statistics that have just been released, including for the quarter ending 31st October 2015.
. Dwelling values across Australia grew by 0.9% for the month of October 2015; with a quarterly average growth of 4%; led by Melbourne and Sydney.
. Best performing Capital City was Melbourne at 4%.
. Weakest was Hobart at – 0.2%.
. Average gross rental yields across Australian Capital Cities, for the quarter ending was 3.2%. Lowest was Sydney at 2.9%
. Most expensive house price city was Sydney with a median price of $785,500.
. Detached house prices grew 11.6% for the year to-date, outstripping apartments at 7.3%
AUSTRALIAN CAPITAL CITIES AT A GLANCE FOR THE PAST QUARTER OF 2015
|Capital City||Median Rent ($)||Median Price ($)||Vacancy Rate (%)|
|Perth||450 -6.3%||550 +2.8%||3.8 +2.8%|
|Melbourne||395 +2.3%||567 +4.2%||2.1 -1.4%|
|Sydney||525 +1.9%||785 +7.4%||2.8 +0.2%|
|Adelaide||380 +2.9%||420 +2.3%||2.9 +0.9%|
|Brisbane||410 +1.7%||480 +3.2%||2.9 +0.3%|
Wishing Great Success to our Property Investor Members