Property Market Insights
- The Australian residential real estate is worth $6.2 trillion, making it the single biggest asset class in the country.
- Over 3 months to January 19, Canberra, Hobart and Adelaide were the best performing real estate markets.
- Over the past 12 months, Sydney and Melbourne were the worst real estate markets, down 9.7% and 8.3%, respectively.
- Higher-end properties are witnessing larger falls in values.
- Dwelling values in Canberra rose 0.8% over the past 3 months, 3.8% higher over the past year. Unit values rose 1.9% over the past year.
- Monthly sales are down 13.2% year on year, naturally.
- Rental growth in Sydney (-3%) and Darwin (-6%) were negative over 12 months to January 2019.
See complete report here.
Article sourced from CoreLogic.