December Housing Market Update

In November 2014 average home values across Australia dropped by 3.4%, however for the full 2014 year, property prices increased by 8.5% across the Country. Capital city property value increase for 2014 were as follows:

Sydney 13.2%

Melbourne 8.3%

Brisbane 6%

Hobart 5.2%

Adelaide 2.8%

Darwin 1.4%

Perth 1.4%

The total number of reported dwelling sales for the September 2014 quarter were 119,000 which is down 1.2% from the previous year.

The averge number of days of the market for properties across Australia for the September 2014 quarter was 36 days.

National rental rates for the September 2014 quarter rose by 2.6%.

RBA rates remain on hold for the 16th consecutive month.

The above information is from RP Data December 2014 Housing Market Report.