Sydney apartments the weaker link for late 2014 price growth: CoreLogic RP Data

Sydney apartments the weaker link for late 2014 price growth: CoreLogic RP Data
Jonathan ChancellorDecember 7, 2020

We know the rate of price growth continues to slow, but the most telling data in the latest November figures CoreLogic RP Data, was the slowing in growth for Sydney apartments.

Sydney continued to drive capital city growth in November, with house values up 14.3% on an annualised basis.

It was running at 14.9% two months ago. It was 15.2% during 2013.

But the apartment segment is nowhere near as strong.

Apartment values in November were up 8.7% over the past year.

But two months it was running at 11.5%. It was 11.6% during 2013.

It is fair to say most Australian cities have now passed their cyclical peak periods.

Sydney's house median sits at $825,000, up from $775,000 at the end of 2013.

Apartment median sits in Sydney at $605,000, up from $557,000 at the end of 2013.

Overall the national capital city average annualised growth for houses has been 8.9% compared to 5.9% for apartments.

Of course let's not forget that just three year ago units were the faster movers in 2012, which was overall pretty ordinary for growth with Sydney house prices up 1.3% annually and units up 2.3% annually.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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