Sydney, Melbourne and Canberra take podium places post-GFC for price growth: CoreLogic

Sydney, Melbourne and Canberra take podium places post-GFC for price growth: CoreLogic
Sydney, Melbourne and Canberra take podium places post-GFC for price growth: CoreLogic

Since the end of 2008, Sydney dwelling values have increased by almost 95 percent and Melbourne dwelling values are up 80 percent, CoreLogic head of research Asia Pacific, Tim Lawless said.

Canberra is the only other housing market where the cumulative capital gain has been greater than 20 percent post GFC.

“While we’ve seen values remain relatively strong, in contrast, rental yields have been in the doldrums due to the fact that residential property values are rising at a faster rate than weekly rents.

"The average gross rental yield across the combined capital city dwelling market has held firm at 3.3 percent over the month, which is at an historic low,” he said.

By a large margin, the lowest yields are now in Sydney and Melbourne where value growth has been the most extreme and caused yields to compress. The typical gross yield on a Sydney and Melbourne house is now 2.8 percent, while the gross yield profile for a Sydney unit is the lowest of any capital city, averaging 3.9 percent.

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Sydney, Melbourne and Canberra take podium places post-GFC for price growth: CoreLogic

 

Tags: 
Dwelling Values Corelogic

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