In July 2015 average house values across Australia increased by 2.8%. For the 12 months from June 2014 to July 2015, average property prices across Australia increased by 11.1% . Capital city housing value increases for the past 12 months are as follows:
Nationally 483,934 dwellings were sold for the 12 months from June 2014 to May 2015. There were 352,012 houses sold and 131,922 units sold. The number of houses sold is 2.5% higher over the year compared to a -7.7% fall in the number of unit sales.
Sydney currently has the highest median dwelling price with houses at an average of $921,500 and units at $660,000. Other major Australian Cities are as follows
Melbourne houses $630,000 units $483,500
Brisbane houses $490,000 units $380,000
Hobart $320,000 units $281,900
Adelaide $425,000 units $342,000
Perth $530,000 units $420,000
Darwin $570,000 units $441,500
Canberra $593,000 units $412,200
Gross Rental Yields across the country are at an average of 3.5% with Darwin being the highest on 5.6% followed by Hobart on 5.2% then Brisbane at 4.5%, Adelaide 4.2%, Canberra 4.1%, Perth 4.0%, Sydney 3.3% and Melbourne being the lowest on 3.1%.
The RBA have left cash rates to a record low of 2% for the second consecutive month
The above information is from RP Data August 2015 Housing & Economic Report.
Click here to view or download the full Report as a PDF or watch the video below from RP Data