Sydney’s property market

Over the 12 months to October 2017, house values in Sydney increased by 7.7% and unit values have increased by 7.9% however, capital gains have been consistently slowing throughout 2017, moving into negative territory since August. The three months ending October 2017 has seen values fall by -0.6%. On an annual basis values are still increasing however, they are now slowing rapidly after having increased by almost 70% over the past five years

Rental rates for both houses and units in Sydney have increased by 3.7% over the 12 months to October 2017.

Regional NSW’s property market

Regional NSW values increased by 0.7% over the three months to October 2017 to be 9.7% higher over the year. Although values are rising faster than Sydney, the annual rate of growth has slowed over the past four months.

Rental rates in regional NSW have increased by 3.5% over the 12 months to October 2017, up from an annual rate of growth of 3.1% a year earlier.

Melbourne’s property market

Melbourne values have increased at the second fastest rate of any capital city over the past year however, quarterly data indicates that the rate of growth has slowed recently. Over the past 12 months, house values have increased by 11.6% while unit values are 9.1% higher.

Rental growth has accelerated over the past year in Melbourne with rents increasing by 4.8% – rising at their fastest pace since December 2010. House rents have increased by 4.7% over the year compared to a 4.9% increase in unit rents.

Regional Victoria’s property market

In regional Victoria, values have risen by 4.4% over the past 12 months. While the annual rate of growth is higher than the 2.2% a year ago, over recent months growth has been slowing and it remains much lower than in Melbourne. While values are rising in a number of regional markets, the 11.3% annual growth in Geelong is the primary driver of higher values in regional Victoria.

Rental growth is moderate across regional Victoria, with rents having increased by 2.4% over the past year up from growth of 1.9% a year ago.

Brisbane’s property market

Values continue to rise closely aligned to household incomes in Brisbane, having increased by 2.7% over the past 12 months. The market continues to see fairly slow and steady growth with values just 14.9% higher over the past decade. Over the past 12 months, house values have increased by 3.5% while unit values are -1.5% lower.

Brisbane rental rates have been falling throughout most of the past year however, over the 12 months to October 2017 they have edged 0.2% higher. Over the year, house rents have increased by 0.3% while unit rents have fallen by -0.5%.

Regional Queensland’s property market

Growth conditions in Queensland are quite varied with the South-East corner generally experiencing moderate value rises while elsewhere there is little growth and value falls in some markets. Over the past 12 months, values in regional Queensland have increased by 1.6% which is marginally higher than the 1.5% annual increase at the same time in 2016.

Regional Queensland has seen a marked increase in demand for rental accommodation, highlighted by rents increasing by 2.8% over the past year compared to last year’s increase of 0.3%.

Adelaide’s property market

Adelaide has consistently seen moderate increases in values over recent years highlighted by the fact that values are 18.2% higher over the past 5 years. Over the past 12 months, house values have increased by 5% while unit values have risen by a slower 1.6%.

Rental rates have increased by 2.5% over the past year which represents the largest annual increase in Adelaide rents since June 2011.

Regional SA property market

Regional SA has experienced value falls by -0.9% over the past 12 months which is a slight decline compared to the -0.3% fall at the same time last year. The South East region of the state was the only major region outside of Adelaide to record an increase in values.

Although values have fallen over the past year, rental rates have risen by 2.7%, accelerating from their 1.8% growth over the previous year.

Perth’s property market

Perth dwelling values are currently -10.6% lower than their June 2014 peak. Over the past 12 months, house values have declined by -2.9% while unit values have fallen by -1.2%.

Rental rates in Perth have continued to fall over the past year however, the rate of decline (-3.3%) is at its slowest pace since January 2014.

Regional WA’s property market

Values in regional WA have continued to fall over the past year however, the rate of decline has slowed. Values are -3% lower over the 12 months to October 2017 compared to an 8% fall over the same period in 2016. All regions of the state have seen values decline over the past year however, falls in the Bunbury region have been the most modest.

Rental rates have continued to fall in regional WA however, the rate of decline has slowed. Over the year rents were -0.3% lower compared to being -5.2% lower over the year to October 2016.

Darwin property market

Since Darwin values peaked in May 2014 they have fallen by a total of -20.4%. The weakness in the Darwin housing market is further highlighted by values being just 9.1% higher than they were a decade ago. Over the past 12 months, house values have fallen by -3.4% and unit values are -9.7% lower.

Darwin rental rates have continued to fall over the past year, however the rate of decline has slowed with rents -1.5% lower over the year, the slowest rate of decline since October 2014.

Canberra’s property market

Over the past year, house values have increased by 7.7% which is significantly greater than the 2.7% increase in unit values.

Rental demand has increased over the past year in Canberra which is reflected by the fact that rents have increased by 5.5% over the 12 months to October 2017.

Hobart’s property market

Hobart values have increased by 12.7% over the past year, the fastest rate of growth of all capital city housing markets. It has been a real turnaround for the Hobart housing market with values increasing by 20.1% over the past two years – over the past 12 months, house values have risen by 13.4% and units by a lower 9.2%.

Rental rates are also surging in Hobart, albeit not quite at the same pace as values however, rents have increased by 9.1% over the past year. House rents have risen by 9.1% while unit rents are 8.7% higher over the year.