Melbourne leads the 20 year price growth, but Darwin wins over past decade: Onthehouse

Melbourne leads the 20 year price growth, but Darwin wins over past decade: Onthehouse
Melbourne leads the 20 year price growth, but Darwin wins over past decade: Onthehouse

Melbourne leads the 20 year house price growth with annualised 8.16% price growth, but Darwin wins over past decade, the latest data from Onthehouse suggests.

It is the same outcome for units too.

The latest statistics reveal that recent annual growth in the Melbourne house market shot up 8.18% in the year to May 2015, which is a dollar increase of about $55,000.

While this is a far cry from the $160,000 value growth in its Sydney counterpart, it represents a rapid increase in values.

Table 1 presents the results for our major markets, for May 2015.

Click to enlarge

 Melbourne leads the 20 year price growth, but Darwin wins over past decade: Onthehouse

Growth in Melbourne seems to have peaked at the beginning of 2014, with growth gradually trending down from this peak, Eliza Owen at Onthehouse reports.

"It is still unclear if growth in Sydney has peaked," she said.

Click to enlarge - Sydney and Melbourne trends

Melbourne leads the 20 year price growth, but Darwin wins over past decade: Onthehouse

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
House Price Growth Market Value

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