25 October 2019

The australian housing market is booming again

Pat Carbone
Share

The housing market is in the midst of an impressive recovery that has seen it regain up to 1/3rd of the value it lost during the downturn. In fact, the combined capital city average dwelling price increased by 2.2% during the three months to September 30th, according to CoreLogic.

If you’ve been considering jumping on the property ladder, now could be the perfect time.

HOUSE PRICE RESURGANCE IN SYDNEY AND MELBOURNE

Sydney and Melbourne are once again leading the country for average house price growth, highlighted by the fact that, during September, both city’s average prices increased by 1.7%. If growth continues at this rate prices in the cities will be near their all-time highs within 6 months.

The data also shows that this isn’t a one-off. During the three months leading to September 30, prices in Sydney and Melbourne increased by 3.5% and 3.4%, respectively. These numbers also tell us that house price growth is speeding up and could be even more impressive in the coming months.

MEASURED PERFORMANCE FOR OTHER CAPITAL CITIES

As usual Sydney and Melbourne stand apart as the top performers when it comes to house price movements. But, looking around the grounds at the rest of the country, CoreLogic’s data shows the following movements in the other capital cities:

<table><tbody><tr><td></td><td>**September**</td><td>**Three months to Sep 30**</td></tr><tr><td>**Brisbane**</td><td>0.1%</td><td>0.5%</td></tr><tr><td>**Canberra**</td><td>1%</td><td>1.4%</td></tr><tr><td>**Darwin**</td><td>-0.2%</td><td>-1.1%</td></tr><tr><td>**Perth**</td><td>-0.9%</td><td>-1.8%</td></tr><tr><td>**Hobart**</td><td>-0.4%</td><td>0.4%</td></tr><tr><td>**Adelaide**</td><td>0.0%</td><td>0.6%</td></tr></tbody></table>

Brisbane and Canberra are both showing positive signs, with small increases for the month and the quarter. In the meantime, prices in Darwin and Perth appear to be continuing their downward trend, while growth in Hobart has reversed, resulting in a small average price decrease during September. Prices in Adelaide stood still during the same period, after several months of gradual growth.

The impressive growth from Sydney and Melbourne has counteracted the sluggishness of other capital cities and driven the national average house price up by a decent 1.7% during September. That reversal comes after a fall of 3.7% during the most recent quarter.

IS IT TIME TO INVEST IN AUSTRALIAN HOUSING?

Property investor activity almost halved from late 2016 to late 2018. But CoreLogic has recently found that investors are getting back on the horse, with loan commitments from investors rising by 11.6% over the three months to August 2019.

This is most likely a response to falling interest rates and increasing confidence in the property market, and may help fuel further price growth.

Are you considering buying a home or investment soon? The numbers are looking good, so now could be the ideal time to make your move.

Other Articles

  • 10 October 2019 - Adrian Atelj
    4 things first home buyers need to know
  • 9 October 2019 - Adrian Atelj
    4 tips for planning success when selling
  • 18 December 2019 - Vic Lorusso
    4 Tips to Consider When Selecting a Builder
  • 19 April 2022 - Danielle Redford
    Key questions to ask before buying a home
  • 15 December 2019 - Adrian Atelj
    8 Must Haves When Choosing A Rental Property
  • 19 April 2022 - Danielle Redford
    How to make a winning rental application
  • 16 October 2019 - Adrian Atelj
    8 tips for negotiating with selling agents
  • 7 October 2019 - Adrian Atelj
    A guide to buying at auction
  • 5 October 2019 - Vic Lorusso
    Adding a pool: will it add value?
  • 4 October 2019 - Adrian Atelj
    Are property managers worth the cost?
  • 24 November 2019 - Adrian Atelj
    Beginner’s Guide to Starting a Veggie Garden
  • 25 March 2022 - Danielle Redford
    Breaking a Lease with your Landlord Early
  • 18 April 2022 - Emma McLaren
    Understanding your home’s useable equity
  • 9 May 2022 - Danielle Redford
    How to flip property in Australia
  • 15 October 2019 - Adrian Atelj
    Gaining the mindset of a successful investor
  • 5 April 2022 - Danielle Redford
    Homeownership in 2022: Costs of Buying a House
  • 9 October 2019 - Vic Lorusso
    Hot interior styling trends for 2020
  • 12 March 2022 - Danielle Redford
    Your guide to different house types
  • 12 March 2022 - Danielle Redford
    Conveyancing: a cheat-sheet guide
  • 19 April 2022 - Emma McLaren
    How long does it take to build a new home?
  • 12 March 2022 - Danielle Redford
    How much deposit do you need to buy a home?
  • 9 May 2022 - Emma McLaren
    How much does a new kitchen cost?
  • 12 March 2022 - Danielle Redford
    What's the average cost to build a home in 2022?
  • 9 May 2022 - Danielle Redford
    The value of building an extra bedroom
  • 5 April 2022 - Danielle Redford
    How to make the most of negative gearing
  • 19 April 2022 - Emma McLaren
    How to buy property through private sale
  • 2 October 2019 - Adrian Atelj
    How to choose an investment property
  • 9 May 2022 - Danielle Redford
    How to determine the value of a home
  • 6 October 2019 - Adrian Atelj
    How to get your property ready for sale
  • 2 October 2019 - Adrian Atelj
    How to increase your return on investment
  • 5 April 2022 - Emma McLaren
    Stress-free interstate migration
  • 4 January 2020 - Adrian Atelj
    How to Negotiate a Lower Rent and Save Big
  • 24 December 2019 - Vic Lorusso
    How To Use Plants for Shade and Privacy
  • 28 November 2019 - Vic Lorusso
    Is a Low Deposit Loan Right for You?
  • 12 March 2022 - Danielle Redford
    Is It Worth Hiring a Buyer's Agent?
  • 7 October 2019 - Adrian Atelj
    How to style your home and wow your buyers!
  • 12 March 2022 - Danielle Redford
    Making an offer on a house in 2022
  • 16 October 2019 - Vic Lorusso
    Making the transition from rent to mortgage
  • 9 October 2019 - Adrian Atelj
    Market falling? Here’s what to do
  • 4 November 2019 - Vic Lorusso
    Mortgage Cashback: What’s the Catch?
  • 19 April 2022 - Emma McLaren
    How to negotiate a home purchase price
  • 15 October 2019 - Vic Lorusso
    Nine top tips for buying off the plan
  • 1 November 2019 - Adrian Atelj
    November Monthly Market Overview
  • 18 April 2022 - Emma McLaren
    Your Complete Pre-Settlement Checklist
  • 19 April 2022 - Danielle Redford
    How to prepare your home for the rental market
  • 24 December 2019 - Adrian Atelj
    Propagating Indoor House Plants with Water
  • 12 March 2022 - Danielle Redford
    Rent-to-own your own home schemes
  • 9 May 2022 - Danielle Redford
    Checklist for a rental inspection
  • 10 November 2019 - Adrian Atelj
    Storage Hacks for Babies and Toddlers
  • 25 March 2022 - Emma McLaren
    Using Super to Buy a Property
  • 19 April 2022 - Danielle Redford
    Essential tools for DIY home renovations
  • 16 October 2019 - Adrian Atelj
    The attraction of apartment living
  • 5 October 2019 - Pat Carbone
    The home buyer’s guide to stamp duty
  • 9 May 2022 - Danielle Redford
    How to carry out an end of lease cleaning
  • 14 October 2019 - Adrian Atelj
    Tips for keeping pets safe outside your home
  • 26 December 2019 - Adrian Atelj
    Top 10 Indoor House Plants
  • 3 October 2019 - Adrian Atelj
    Top tips for picking your ideal suburb
  • 19 April 2022 - Emma McLaren
    Which Property Type Should You Buy?
  • 9 May 2022 - Danielle Redford
    What you need to know about stamp duty
  • 19 April 2022 - Danielle Redford
    What’s the purpose of a sunset clause?
  • 10 October 2019 - Adrian Atelj
    Understanding supply and demand
  • 25 March 2022 - Emma McLaren
    What is a Granny Flat?
  • 9 May 2022 - Emma McLaren
    What is a private rental?
  • 19 April 2022 - Danielle Redford
    Buying a Property Under a Private Treaty Sale
  • 12 March 2022 - Danielle Redford
    Property Valuations and How They are Calculated
  • 14 October 2019 - Adrian Atelj
    What to look for when inspecting a property
  • 9 May 2022 - Emma McLaren
    A Guide to building a granny flat
  • 27 November 2019 - Pat Carbone
    When is the Best Time of Year to Sell?
  • 9 May 2022 - Danielle Redford
    I want to sell my home; where do I start?
  • 6 October 2019 - Vic Lorusso
    Which property costs are tax-deductible?
  • 10 October 2019 - Adrian Atelj
    Why selling your home is taking longer
  • 183 of 183 articles
    Copyright © 2021 Homes.com.au Limited. All rights reserved.