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TY
OPER
StAte ProPerty SUmmAry
PR
Each region in Australia offers plenty of opportunities, which means a
great deal of choice for the investor.
inveStment SnAPShot – AroUnd the nAtion
AdelAide continues to lead the nation other end of the spectrum is Hume City where
in terms of capital growth with house and values have fallen by 5 per cent during 2008.
unit values increasing by 21 per cent and
25 per cent respectively. Despite the ongoing dArwin continues to record a solid
gains in property values, Adelaide houses performance with a 10 per cent gain in
still provide the most affordable price tag of dwelling values over the twelve months to
any mainland capital city. The median value April 2008. The Darwin market has continued
of a house in Adelaide is now A$421,478, to record an impressive rate of growth during
approximately A$73,000 higher than the the first four months of 2008 with values
same period last year. Strong price growth is increasing by 4 to 5 per cent. Despite such
still apparent across all regions of Adelaide, strong growth in dwelling values, Darwin
especially the more affluent inner and coastal continues to record the highest gross rental
suburbs. yields in the nation. Rental houses are
returning an average gross rental yield of 5.7
BrisBAne is also continuing to show solid per cent while units are returning an average
expansion in property values with overall gross rental yield of 6.2 per cent.
growth of around 3 per cent for houses and
v
estment units during the first four months of 2008. The sydneynulls value growth is flattening
value gap between Brisbane and Melbourne across the board, even in the traditional
is becoming wider as growth in the Melbourne growth hotspots of the inner city and metro
market has slowed considerably. At the start coastal regions. Six to twelve months ago it
in
of 2007 house values in the two cities were experienced steady growth of 2 to 4 per cent
virtually on par, however the stronger value in the Eastern Suburbs, North Shore and
growth in the Brisbane market has seen Northern Beaches. However, 2008 has been
Brisbane house values now 5 per cent or more volatile, with a month of growth followed
$24,000 higher than in Melbourne. by a month of decline. The exception to the
rule seems to be the St George – Sutherland
CAnBerrA has provided a solid return region where value growth has been much
over the last year with an increase in property steadier. The best performing market during
values of 13.5 per cent over the year. The first 2008 has been units in south western Sydney
quarter of 2008 has seen value growth flatten where buyers are opting for units and town
with Canberra dwelling values decreasing by houses instead of more expensive houses.
half a percentage point. Price falls in some
outer regions are being balanced by value Perth remains the only capital city to
improvements within the inner suburbs. experience a decline during the 12-month
This trend is leading to increasingly volatile period to April 2008, with dwelling values
statistics in the Canberra marketplace. falling by 1.33 per cent. The median value
of a Perth house is now slightly less than
MelBournenull overall growth rate has A$500,000. The inner city unit market appears
slowed considerably during 2008 with the to be the safest haven in this declining market.
first four months recording a fall in property Perth units values have decreased by 1.35
values of 0.16 per cent. A further disparity per cent over the first four months of 2008,
in the performance of Melbourne regions is however the inner areas of Perth have defied
emerging with the more affluent inner areas the slow down.
1
such as Moreland and Boroondara returning
FOOTNOTES
growth between 2 and 4 per cent. At the
1
http://rpdata.com/news/rp/20080602_media.html
54 INVEST IN AUSTRALIA – INDIA
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