- November 14, 2013
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, House prices, Inflation, Wealth
After going nowhere after two years, house prices have lifted for five consecutive months. The lift is also widespread with most major markets showing annual gains.
According to RPData, home values across our capital cities are up 8% on a year ago – with detached house values rising by 8.2% & attached property up 5.9%
The average house price in a capital city is $540,000 & the typical apartment costs $460,000.
Home prices for the last 12 months (year ending October) rose by:
- 12% in Sydney
- 8% in Melbourne
- 7% in Perth
- 4% in Canberra
- 3.4% in Brisbane
- 2% in Adelaide
Home prices fell in Hobart & Darwin, both slightly.
Total returns (change in median values & gross rental returns) averaged 13% for capital city houses & 11% for apartments.