Property Values

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<p>Adelaide house and unit prices were one of only two capital cities to record annual house price growth, and the only capital to record unit price growth, according to Domain's latest House Price Report.</p>
<p>The report found that as a result, house and unit prices are now both at record highs.</p>
<p>Adelaide house prices grew 0.1% over the quarter and 1.7% over the year to $537,971.</p>
<p>Adelaide unit prices grew 2.4% over the quarter and 0.7% over the year to $321,430.</p>
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<p>Domain Senior Research Analyst, Dr Nicola Powell said: “Adelaide continues to provide buyers and sellers steady market conditions, proving to be more resilient than other capital cities under the changed lending landscape. With the credit crunch impacting investors more than owner-occupiers, Adelaide is somewhat insulated from the restricted flow of housing finance — the southern capital has always skewed towards owner occupiers.</p>
<p>“House prices have risen annually for five-and-a-half years. Adelaide is renowned for a modest pace of growth, this steady performance means it the second best performing capital city, only behind Hobart. Adelaide house prices remain higher than Hobart and Darwin and are likely to surpass Perth in the coming months. For units, Adelaide is the best performing capital city over the December quarter.</p>
<p>“Overall buyer interest in Adelaide has risen, with Domain recording a rise in the number of views per listing. The stronger performance of units relative to other capital cities is likely to be partly investor led, as the lower purchasing costs and steady capital growth entices investment activity. The burgeoning food scene, established wine region, and low Australian dollar has helped to support interstate and overseas visitation to the South Australian capital.</p>
<p>“Adelaide's sustainable growth in tourism is likely to be another investor drawcard. Confidence is rising on the back of a growing jobs market. We’ll also see large scale projects like submarine construction and the planned new Australian Space Agency support population growth and demand for housing.”</p>
<p><img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Adl.jpeg" alt=""></p>
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j.ballantyne1990-6AQqhLzZaK

Adelaide unit and house prices at record highs: Domain

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<p>GUEST OBSERVER</p>
<p>Earlier this month, Secret Agent released our findings on the price per square metre of apartments in the secondary market.</p>
<p>Now we look closely at apartments in the upper tier of Melbourne property, exclusively those that have sold for above $2 million.</p>
<p>Each floor plan was manually measured for its internal habitable space, and the final measurement excluded external walls or structural elements, outdoor space, car spaces and storage cages. Sales were included only if a price and scaled floor plan were available. </p>
<p><a href="/images/2016/06/28/Screen%20Shot%202016-06-28%20at%209.26.29%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/28/Screen%20Shot%202016-06-28%20at%209.26.29%20AM.png" alt=""></p>
<p>Key findings:</p>
<p>This study included 12 penthouses, which are typical assets in the top end of the market.</p>
<p>More than half of the sampled apartments have a North-facing aspect, balcony or terrace. This is the most desirable orientation for optimum natural light and passive heating. </p>
<p>Apartments in the $2million plus market were 59 percent more expensive on a per square metre basis than the rest of the market (below $2million).</p>
<p>On average, 3 bedroom apartments sold at a higher cost per square metre than 4 bedroom apartments (Table 2).</p>
<p>5 of the apartments were located in period or Art Deco buildings, while the rest were constructed from the 1990s onwards. Most of these newly built apartments were designed by renown architects such as Fender Katsalidis, Robin Boyd, Woods Bagot, Ashton Raggatt McDougall, Bates Smart, or boutique developers such as Neometro. For this study, 32 apartments sold between the 1st of May 2015 to 31st of May 2016 were analysed.</p>
<p>The average sale price for these apartments was $2,571,469. The sample mostly consisted of apartments from the central, inner East and inner South of Melbourne. The average price per square metre for $2million plus apartments was $13,653. The results by suburb are shown in Table 1.</p>
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<p><a href="/images/2016/06/28/Screen%20Shot%202016-06-28%20at%209.27.31%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/28/Screen%20Shot%202016-06-28%20at%209.27.31%20AM.png" alt=""></p>
<p>While the average size of apartments below $2million does not appear to deviate much (between 61sqm and 80sqm in sampled suburbs), this does not seem to be the case for the top end of the market. Apartments in the central region (Melbourne, Southbank, Docklands) are on average bigger than the inner East and inner South apartments. </p>
<p><a href="/images/2016/06/28/Screen%20Shot%202016-06-28%20at%209.28.42%20AM.png" target="_blank"> Click to enlarge</a></p>
<p><img src="/images/2016/06/28/Screen%20Shot%202016-06-28%20at%209.28.42%20AM.png" alt=""> </p>
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<p><span> <em>For more information, <a href="https://secretagent.com.au/" target="_blank">click here</a>.</em></span></p>
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jchancellor-FAypfDUnLy

Square metre rates for Melbourne's $2 million plus market: Secret Agent

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<p><span>Estate agent John McGrath anticipates it’s going to be a lot quieter on the eastern seaboard property front. </span></p>
<p><span>"While South-East Queensland will continue bubbling away in the early stages of its growth cycle, Sydney and Melbourne have reached the slow down point," he suggested.</span></p>
<p><span>"The boom is over but the growth cycle isn’t," he wrote in his Switzer blog. </span></p>
<p><span>He anticipates ups and downs in the monthly reporting of price movements but still some overall annual price growth. </span></p>
<p><span>He noted Sydney property values had risen by almost 50% since mid-2012.</span></p>
<p><span>"So if you purchased a property in 2011 for say, $600,000, your property would be worth about $900,000 now.</span></p>
<p><span>"That’s fantastic news for people who owned property before the boom but for those who missed the opportunity to buy before the growth, it’s just painful." </span></p>
<p><span> {mijopolls 127}</span></p>
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