Home price growth steadies: Pete Wargent
Pete WargentDecember 17, 2020
Macroprudential measures have had the desired effect, and the rate of home price growth has steadied.
CoreLogic-RP Data's Daily Home Value Index may be a little seasonal, but the year-on-year figures show the slower gradient of growth.
Nationally home price growth has slowed to +6.3 percent year-on-year.
Melbourne (+8.8 percent), Sydney (+8.1 percent) and Brisbane (+4.5 percent) between them have accounted for most of the price growth over the past year.
While Sydney and Melbourne have been grabbing all the attention in recent years, Brisbane prices have just kept rising steadily and under the radar.
CoreLogic's index shows the median price for Brisbane & Gold Coast having increased by $61,330 or +13.1 per cent over the past three years.
Although I have long been sceptical about the somewhat parlous state of the South Australian economy, Adelaide mediabn prices have also increased by just shy of +10 per cent over the same timeframe.
While Sydney and Melbourne have been grabbing all the attention in recent years, Brisbane prices have just kept rising steadily and under the radar.
CoreLogic's index shows the median price for Brisbane & Gold Coast having increased by $61,330 or +13.1 per cent over the past three years.
Although I have long been sceptical about the somewhat parlous state of the South Australian economy, Adelaide mediabn prices have also increased by just shy of +10 per cent over the same timeframe.
I was busy doing other things than charting data over the Christmas/New Year 2014-15 period, so actually have no idea what happened in the gaps in the chart.
Maybe there was a property crash and a speedy recovery, for all I know, not sure.
Maybe there was a property crash and a speedy recovery, for all I know, not sure.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.
Pete Wargent
Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.