Property Market Moves – April 2018

Australia now has more than 10 million homes.

Recent data released by the Australian Bureau of Statistics for the end of 2017 show that dwellings rose by 40,400 to 10.003 million, the highest level on record.  The total value of those dwellings is $6.9 Trillion representing an average value of $686,700.

In contrast, sales volume has gone the opposite direction with significant declines in transactions in the major capitals, which happen to be the most expensive markets.

Australian Residential Sales Volume

Source: CBA

Major City Values in Decline

Coupled with the decline in transaction numbers, values in Melbourne, Sydney and Adelaide have also declined in the last quarter.

The value drop was mainly due to decreases in more expensive properties, whilst value growth throughout 2017 had been downward as evidenced in these charts segmented by value range.

The Apartment Oversupply Didn’t Last

Residential building approvals for high-rise apartments is increasing, shirking the forecast of an apartment oversupply.

On the back of continued population growth and the high cost of larger homes, developers are confident that demand for apartments is still prevalent and have continued their to supply them.

Recent stories

Super, death, and avoiding taxes

By Tony Kaye, Senior Personal Finance Writer, Vanguard Australia Having enough superannuation to enjoy a financially comfortable lifestyle in retirement…

Read more

Starting strong: Your 2021 Tech To Do list

In a year where simply keeping the doors open was a challenge for many businesses, finding the funds for tech…

Read more

Annuities

An annuity, also known as a lifetime or fixed-term pension, gives you a guaranteed income for a number of years.…

Read more

Budgeting 102: Sticking to your budget

Budgeting for a holiday or saving for a deposit? Even the best budget can unravel if the right tools are…

Read more

Virtual trips from your couch

In this modern age travelling is a lot more accessible, we are now able to become those very adventurers we…

Read more