Australian housing-market-report July 2015
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CORELOGIC RPDATA/NAB COMBINED AUSTRALIAN HOUSING REPORT 11-07-2015 FOR YOUR PERUSAL AND INFORMATION COURTESY LINDA AND CARLOS DEBELLO WWW.LJGREALESTATE.COM #PROPERTY MANAGEMENT & SALES OF PROPERTIES WITH TENANTS IN PLACE Highly Recommend Amanda Pears NAB Stafford LJ Gilland Real Estate OFFERS a special rate of commission at 7% +gst, (instead of 7.5%+gst) on your management. We take pride in managing properties, our Core business, you will find that we differ in the level of care we take with, for example, the amount of photographs we take of your investment property, which helps to keep you informed and ensures that you make confident decisions, we strive to ensure your property is well maintained, and you receive prompt rental payments. AT A GLANCE • Property management • Individual solutions to fit our client's needs • Body corporate management • Competitive Commission Rates • LET FEE FOR REFERRALS, We are a business built on 20 years of Referrals. • NO Lease Renewal & Comparable Market Analysis’ Fees/Charges • PHOTOS TAKEN ON ENTRY, tenants are shown about safety switches and water mains etc. We meet all tenants on site. • Hands on approach to all Property Investment Management Matters. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. We offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. Best Regards Linda & Carlos Debello “Your Local Property Management Specialist” LJ Gilland Real Estate Pty Ltd (http://www.ljgrealestate.com.au) PO BOX 19 ZILLMERE 4034 (07) 3263 6085 0400 833 800 (Mob 1) 0413 560 808 (Mob 2) 0409 995 578 (Linda) http://www.facebook.com/ljgrealestate & Find Us on Google+ http://www.ljgrealestate.com.au/index.php?lan=ch
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Australian housing-market-report July 2015
- 1. Prepared by RPData Pty Ltd ABN 67 087 759 171 and National Australia Bank Ltd ABN 12 004 044 937 Published June 2015 including data sourced up to April 2015 Winter 2015 Edition Australian Housing Market Report ©2015 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 A116351-0515
- 2. National Overview Introduction — 1 Welcome to our Winter 2015 Edition The Australian Housing Market Report is your guide to the current home value trends in Australia. You’ll find information about what’s happened over the last 12 months (up until April 2015), as well as NAB’s expectations of where prices are headed in the near future. The information on the white background (headed CoreLogic RP Data) is about the housing market in the 12-month period to April 2015. It was provided by RP Data Pty Ltd, who trade as CoreLogic Asia Pacific, but are referred to in this report as CoreLogic RP Data. The information on the grey background (headed NAB Residential Property Survey) includes extracts from the March 2015 NAB Residential Property Survey of property market professionals. The survey asked participants to give their views on where they think house prices will move to in the 12-month period to March 2016. Information on the red background (headed NAB’s view) is provided by NAB Group Economics. It’s our economists’ view about the national capital city house price growth up to December 2015. Important Information You can find more detail about the sources we’ve used for this report in the ‘Important Information’ section at the end of this document. References to ‘NAB’ in this report are to National Australia Bank Limited ABN 12 004 044 937. We use information from a few different sources to put this report together. Here’s how it works:
- 3. CoreLogic RP Data’s View National Overview — 2 NAB Residential Property Survey – state house price expectations National Overview According to the CoreLogic RP Data Home Value Index, home values across the combined capital cities have increased by 7.9% over the 12 months to April 2015. The rate of growth has slowed from its peak of 11.5% in April last year but has recently rebounded from its recent moderating trend on the back of lower interest rates and stronger housing market conditions, particularly in Australia’s largest capital city, Sydney. Across the individual capital cities, Sydney has stood out as recording the strongest growth over the year with values rising 14.5%. Melbourne has also recorded comparatively strong growth of 6.9% over the past year. Across the remaining capital cities the rate of home value growth has been much more moderate over the year, recorded at: 2.2% in Brisbane, 1.7% in Adelaide, 0.3% in Perth, 1.2% in Hobart, 1.1% in Canberra and a -1.6% fall in Darwin. Another feature of the current housing market has been much weaker conditions in regional areas. Nationally, rest of state areas have recorded a 1.5% increase in house values. Across the major states, the annual rate of house value growth outside of the capital city has been recorded at: 4.6% in New South Wales, -0.9% in Victoria, 1.1% in Queensland, -2.1% in South Australia and -3.1% in Western Australia. Regional areas are currently seeing a shift in the market performance. Prior to the downturn in commodity markets, areas linked to the resources sector had experienced the highest levels of capital growth and lifestyle markets had seen little growth. This has now shifted with some significant weakness in resource markets being offset by some re-emerging growth in lifestyle markets. Home values across the combined capital cities have increased by 7.9% in the 12 months to April 2015 Source: CoreLogic RP Data -% -% % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr Sydney has experienced the strongest annual change across capital city and regional home values* *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas. Source: CoreLogic RP Data .% .% .% .% .% .% .% .% .% .% .% .% .% -% % % % % % Sydney Regional NSW Melbourne Regional Vic Brisbane Regional Qld Adelaide Regional SA Perth Regional WA Hobart Darwin Canberra House Price Expectations (%)Nationally, house prices are tipped to grow 2.1% in the next 12 months according to the March quarter 2015 NAB Residential Property Survey. While expectations for national house prices have strengthened the picture remains quite mixed across states. Expectations for house price growth over the next 12 months have improved in NSW (3.3%) and QLD (3.3%). Expectations were scaled back in VIC, but remain positive (1.3%). House prices are expected to fall in SA/NT (-0.4%) and remain flat in WA. Survey expectations for national house prices have strengthened but the picture remains quite mixed across the states. Alan Oster, Chief Economist at NAB Group Economics -1.0 0.0 1.0 2.0 3.0 4.0 5.0 NSW Qld Australia Vic WA SA/NT Qld NSW Australia Vic WA SA/NT Q1'14 Q4'14 Q1'15 % sraey2txeNshtnom21txeN The NAB expectation is that average capital city house price growth will cool, although remain in positive territory at 6.4% through the year to end 2015. NAB expects house price growth to accelerate modestly in Brisbane (5%) and Adelaide (0.5%) and remain flat in Perth. Key definitions Home value is the value of dwellings which is the combination of both house and unit values Median Value utilises Core Logic RP Data’s automated valuation model (AVM) to determine the middle value of all properties in a suburb. The change in median value is measured by the percentage difference between the current median value and the median value over a stated time period (12 months/3 years/5 years) NAB’s view - capital city house price expectations The NAB view is that average capital city house price growth will cool, although remain in positive territory at 6.4% through the year to end 2015. Capital growth is expected to be led by Sydney (10%), followed by Melbourne (6.2%), Brisbane (3%) and Adelaide (0.4%). House prices in Perth are expected to fall (-2.5%). Average national house price growth is expected to moderate in 2016 to 3.8%, largely reflecting NAB’s expectations for rising unemployment, sluggish household income growth, affordability concerns (especially in Sydney and Melbourne), cost of living pressures and still high levels of household debt. By individual capital city, NAB expects house price growth to accelerate modestly in Brisbane (5%) and Adelaide (0.5%) and remain flat in Perth. In contrast, prices are expected to slow in Sydney (5%) and Melbourne (3.5%).
- 4. Top 5 most affordable suburbs Top 5 most expensive suburbs National top performers UnitHouseUnitHouse National Overview National top performers — 3 Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 Bemboka NSW Bega Valley $284,933 49.0% 2 Leppington NSW Camden $1,497,614 41.4% 3 Burrawang NSW Wingecarribee $816,586 41.2% 4 Chatswood West NSW Willoughby $1,587,925 39.1% 5 South Granville NSW Parramatta $766,990 37.9% 6 Narembeen WA Narembeen $161,691 36.9% 7 Silverwater NSW Auburn $745,912 36.5% 8 Murrumburrah NSW Harden $192,481 36.3% 9 St Kilda West VIC Port Phillip $1,776,943 36.2% 10 Rosehill NSW Parramatta $813,792 36.0% 11 Oakville NSW Hawkesbury $1,320,646 34.9% 12 Emmaville NSW Glen Innes Severn $122,949 34.6% 13 Chatswood NSW Willoughby $1,848,005 34.4% 14 Granville NSW Parramatta $741,608 34.3% 15 Waverley NSW Waverley $1,730,729 33.9% 16 Carlingford NSW The Hills Shire $1,111,122 33.6% 17 Kyeemagh NSW Rockdale $1,325,139 32.9% 18 Kellerberrin WA Kellerberrin $193,817 32.9% 19 Homebush NSW Strathfield $1,391,792 32.9% 20 East Ryde NSW Ryde $1,299,181 32.4% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 Lathlain WA Victoria Park $526,699 48.3% 2 Williamstown North VIC Hobsons Bay $544,828 42.5% 3 Middle Ridge QLD Toowoomba $346,640 38.5% 4 Dutton Park QLD Brisbane $508,118 37.2% 5 Southside QLD Gympie $179,054 35.8% 6 Yanchep WA Wanneroo $350,965 32.4% 7 Belrose NSW Warringah $629,459 32.0% 8 Wembley Downs WA Stirling $655,959 29.7% 9 Yagoona NSW Bankstown $524,030 29.3% 10 Mountain Creek QLD Sunshine Coast $373,267 29.0% 11 South Kingsville VIC Hobsons Bay $439,063 28.7% 12 West Pennant Hills NSW The Hills Shire $806,826 25.9% 13 Cabramatta NSW Fairfield $381,979 25.7% 14 Leichhardt NSW Leichhardt $815,541 25.6% 15 Port Kembla NSW Wollongong $263,052 25.4% 16 Werrington NSW Penrith $356,755 25.2% 17 Roselands NSW Canterbury $440,280 24.9% 18 Warwick Farm NSW Liverpool $322,990 24.5% 19 Minto NSW Campbelltown $353,607 24.4% 20 Seaforth NSW Manly $1,078,682 23.7% Suburb State Council region Median value Jeparit VIC Hindmarsh $85,616 Zeehan TAS West Coast $89,605 Queenstown TAS West Coast $94,182 Rosebery TAS West Coast $94,291 Sea Lake VIC Buloke $97,136 Suburb State Council region Median value Point Piper NSW Woollahra $5,517,002 Centennial Park NSW Randwick $5,105,639 Vaucluse NSW Woollahra $3,880,848 Bellevue Hill NSW Woollahra $3,783,501 Tamarama NSW Waverley $3,664,178 Suburb State Council region Median value Dawes Point NSW Sydney $2,794,057 Point Piper NSW Woollahra $1,941,825 Darling Point NSW Woollahra $1,543,610 Cabarita NSW Canada Bay $1,372,894 Cremorne Point NSW North Sydney $1,140,545 Suburb State Council region Median value Berri SA Berri and Barmera $122,033 Moe VIC Latrobe $133,868 Risdon Park SA Port Pirie City and Dists $137,467 Port Augusta SA Port Augusta $137,939 Deniliquin NSW Murray $138,268 CoreLogic RP Data’s View
- 5. CoreLogic RP Data’s View months $ National Overview New South Wales Overview — 4 NAB’s View: Sydney house price expectations NAB Residential Property Survey: NSW New South Wales Overview Sydney has recorded the greatest increase in home values across all capital cities over the past year. According to the CoreLogic RP Data Home Value Index, Sydney home values have increased by 14.5% over the twelve months ending April 2015. Sydney house values have increased by a much greater amount over the year (15.5%) compared to units (9.7%). Sydney has also seen the greatest rise in home values over the current growth phase, up 40.2% since values started rising in June 2012. The bar chart shows that growth in values across Sydney has been stronger than all other regions. It is also noticeable that most of the coastal markets have showed fairly strong levels of capital growth, albeit not as strong as the growth in Sydney. The Hunter and Illawarra regions which are adjacent to Sydney have recorded fairly strong growth however, they remain much more affordable than the Sydney market. Markets located away from the coast have tended to record much softer capital growth conditions over the year. Sydney has recorded the greatest increase in home values across all capital cities over the past year at 14.5% Annual change in Sydney and regional NSW home values* Source: CoreLogic RP Data *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas Source: CoreLogic RP Data -% -% % % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr .% .% .% .% .% .% .% .% .% .% .% .% % % % % % %% %% Sydney Hunter Illawarra Richmond-Tweed Mid-North Coast Northern North Western Central West South Eastern Murrumbidgee Murray Far West Expectations for house price growth in New South Wales to March 2016 are up at 3.3%. 3.3% Capital growth is expected to be led by Sydney at 10% at the end of December 2015. 10%
- 6. Top 5 most affordable suburbs Top 5 most expensive suburbs UnitHouseUnitHouse National Overview Sydney top performers — 5 Sydney top performers Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 Leppington NSW Camden $1,497,614 41.4% 2 Chatswood West NSW Willoughby $1,587,925 39.1% 3 South Granville NSW Parramatta $766,990 37.9% 4 Silverwater NSW Auburn $745,912 36.5% 5 Rosehill NSW Parramatta $813,792 36.0% 6 Oakville NSW Hawkesbury $1,320,646 34.9% 7 Chatswood NSW Willoughby $1,848,005 34.4% 8 Granville NSW Parramatta $741,608 34.3% 9 Waverley NSW Waverley $1,730,729 33.9% 10 Carlingford NSW The Hills Shire $1,111,122 33.6% 11 Kyeemagh NSW Rockdale $1,325,139 32.9% 12 Homebush NSW Strathfield $1,391,792 32.9% 13 East Ryde NSW Ryde $1,299,181 32.4% 14 Cherrybrook NSW Hornsby $1,191,060 32.2% 15 Monterey NSW Rockdale $1,318,356 32.0% 16 Willmot NSW Blacktown $371,264 32.0% 17 Tamarama NSW Waverley $3,664,178 31.5% 18 Glenfield NSW Campbelltown $610,031 31.4% 19 North Turramurra NSW Ku-ring-gai $1,323,290 31.3% 20 Carnes Hill NSW Liverpool $743,785 31.1% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 Belrose NSW Warringah $629,459 32.0% 2 Yagoona NSW Bankstown $524,030 29.3% 3 West Pennant Hills NSW The Hills Shire $806,826 25.9% 4 Cabramatta NSW Fairfield $381,979 25.7% 5 Leichhardt NSW Leichhardt $815,541 25.6% 6 Werrington NSW Penrith $356,755 25.2% 7 Roselands NSW Canterbury $440,280 24.9% 8 Warwick Farm NSW Liverpool $322,990 24.5% 9 Minto NSW Campbelltown $353,607 24.4% 10 Seaforth NSW Manly $1,078,682 23.7% 11 Matraville NSW Randwick $688,760 23.6% 12 Cambridge Park NSW Penrith $413,961 23.4% 13 Waverley NSW Waverley $817,234 22.8% 14 Concord West NSW Canada Bay $624,729 22.7% 15 Riverwood NSW Canterbury $593,749 22.6% 16 Parramatta NSW Parramatta $518,935 22.5% 17 Hurlstone Park NSW Canterbury $607,449 22.3% 18 Liverpool NSW Liverpool $359,447 22.3% 19 Canley Vale NSW Fairfield $377,053 22.2% 20 Kellyville NSW The Hills Shire $697,293 21.8% Suburb State Council region Median value San Remo NSW Wyong $327,027 Gorokan NSW Wyong $340,729 Canton Beach NSW Wyong $354,298 Watanobbi NSW Wyong $358,096 Halekulani NSW Wyong $358,547 Suburb State Council region Median value Point Piper NSW Woollahra $5,517,002 Centennial Park NSW Randwick $5,105,639 Vaucluse NSW Woollahra $3,880,848 Bellevue Hill NSW Woollahra $3,783,501 Tamarama NSW Waverley $3,664,178 Suburb State Council region Median value Dawes Point NSW Sydney $2,794,057 Point Piper NSW Woollahra $1,941,825 Darling Point NSW Woollahra $1,543,610 Cabarita NSW Canada Bay $1,372,894 Cremorne Point NSW North Sydney $1,140,545 Suburb State Council region Median value Berkeley Vale NSW Wyong $251,876 Gorokan NSW Wyong $260,479 Wyong NSW Wyong $274,435 Toukley NSW Wyong $281,565 Katoomba NSW Blue Mountains $283,076 CoreLogic RP Data’s View
- 7. CoreLogic RP Data’s View months $ National Overview Victoria Overview — 6 NAB’s View: Melbourne house price expectations NAB Residential Property Survey: VIC Victoria Overview Home value growth in Melbourne over the past year has been greater than all other capital cities except Sydney according to the CoreLogic RP Data Home Value Index. Melbourne home values have increased by 6.9% over the past year and by a total of 24.5% over the current growth phase commencing in May 2012. There is a large discrepancy between the rate of growth for houses and units over the past year, recorded at 7.6% and 1.9% respectively over the 12 months to April 2015. Capital growth conditions have been weaker in all regional markets of Victoria compared to growth in Melbourne. The Ovens-Murray region which includes towns such as Wodonga and Wangaratta has recorded the greatest rise in house values of all regional markets over the year. Interestingly, the second largest region of the state, Barwon, which includes Geelong and the Surf Coast, has seen very moderate levels of capital growth over the year. Although value growth has been softer outside of Melbourne, house values have increased across each regional Victorian market over the past year. Home value growth in Melbourne has been second only to Sydney in the past year Annual change in Melbourne and regional Vic home values* Source: CoreLogic RP Data *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas Source: CoreLogic RP Data -% -% % % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr .% .% .% .% .% .% .% .% .% .% .% % % % % % % % % % Melbourne Barwon Western District Central Highlands Wimmera Mallee Loddon Goulburn Ovens-Murray East Gippsland Gippsland Expectations for house price growth in Victoria to March 2016 is at 1.3%. 1.3% Capital growth is expected to be led by Melbourne at 6.2% at year end Dec 2015. 6.2%
- 8. Top 5 most affordable suburbs Top 5 most expensive suburbs UnitHouseUnitHouse National Overview Melbourne top performers — 7 Melbourne top performers Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 St Kilda West VIC Port Phillip $1,776,943 36.2% 2 Glen Iris VIC Boroondara $1,673,622 29.4% 3 Deepdene VIC Boroondara $2,399,033 29.0% 4 Kew VIC Boroondara $2,062,610 28.5% 5 Whittlesea VIC Whittlesea $486,862 28.3% 6 Fairfield VIC Yarra $1,010,446 27.3% 7 Donvale VIC Manningham $883,583 26.0% 8 Warrandyte VIC Manningham $803,504 25.6% 9 Ashwood VIC Monash $950,296 25.3% 10 Box Hill North VIC Whitehorse $884,435 24.9% 11 Ashburton VIC Boroondara $1,348,969 24.9% 12 Balwyn North VIC Boroondara $1,575,918 24.6% 13 Alphington VIC Darebin $1,254,887 24.1% 14 Malvern VIC Stonnington $1,912,768 23.1% 15 Knoxfield VIC Knox $558,173 23.0% 16 Mckinnon VIC Glen Eira $1,213,834 22.2% 17 Bentleigh VIC Glen Eira $1,123,138 21.8% 18 Mccrae VIC Mornington Peninsula $634,476 20.5% 19 Mont Albert North VIC Whitehorse $1,088,991 20.3% 20 Vermont South VIC Whitehorse $837,094 19.4% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 Williamstown North VIC Hobsons Bay $544,828 42.5% 2 South Kingsville VIC Hobsons Bay $439,063 28.7% 3 Springvale VIC Greater Dandenong $348,646 22.7% 4 Briar Hill VIC Banyule $479,861 21.8% 5 Clifton Hill VIC Yarra $593,720 20.6% 6 Notting Hill VIC Monash $367,201 19.7% 7 Huntingdale VIC Monash $428,123 19.3% 8 Burwood East VIC Whitehorse $563,508 19.3% 9 Oakleigh East VIC Monash $589,282 18.7% 10 Oakleigh South VIC Kingston $481,095 17.5% 11 Mont Albert VIC Whitehorse $652,723 17.4% 12 Caulfield North VIC Glen Eira $595,921 17.4% 13 Croydon South VIC Maroondah $460,846 17.3% 14 Nunawading VIC Whitehorse $522,060 17.3% 15 Hughesdale VIC Monash $548,847 17.0% 16 Vermont VIC Whitehorse $557,700 15.8% 17 Brooklyn VIC Brimbank $408,081 15.8% 18 Heidelberg West VIC Banyule $426,245 15.6% 19 Carlton VIC Melbourne $321,478 15.1% 20 West Footscray VIC Maribyrnong $357,959 14.7% Suburb State Council region Median value Melton VIC Melton $265,442 Millgrove VIC Yarra Ranges $265,651 Melton South VIC Melton $270,539 Frankston North VIC Frankston $283,319 Coolaroo VIC Hume $289,506 Suburb State Council region Median value Toorak VIC Stonnington $3,002,699 Kooyong VIC Stonnington $2,936,848 Deepdene VIC Boroondara $2,399,033 East Melbourne VIC Melbourne $2,217,496 Canterbury VIC Boroondara $2,119,283 Suburb State Council region Median value Brighton VIC Bayside $877,100 Ashburton VIC Boroondara $838,830 Balwyn North VIC Boroondara $816,889 Brighton East VIC Bayside $791,517 Canterbury VIC Boroondara $753,386 Suburb State Council region Median value Albion VIC Brimbank $229,276 Melton South VIC Melton $237,987 Melton VIC Melton $241,206 Ardeer VIC Brimbank $252,395 Koo Wee Rup VIC Cardinia $266,556 CoreLogic RP Data’s View
- 9. CoreLogic RP Data’s View months $ National Overview Queensland Overview — 8 NAB’s View: Brisbane house price expectations NAB Residential Property Survey: QLD Queensland Overview According to the CoreLogic RP Data Home Value Index results, home values in Brisbane have increased by 2.2% over the 12 months to April 2015. Although that may sound like moderate growth it is actually the third greatest increase in capital city home values over the past year. Over the past year, house values have increased by 2.3% compared to a 0.7% increase in unit values. Throughout the current national value growth phase, growth has been quite muted in Brisbane with values rising just 11.5% since June 2012 and home values are still sitting below their previous peak. Home value growth conditions in regional Queensland have generally been much more diverse than conditions across most other states. The strongest increase in house values has been recorded in the North West which includes towns like Cloncurry and Mount Isa. The other areas which have recorded stronger value growth than Brisbane are the coastal lifestyle markets which were previously weak growth performers since the financial crisis. Elsewhere there has been noticeable falls in values across those regions linked with the mining and resources sector as investment in this sector falls along with commodity prices. Brisbane experienced the third greatest increase in capital city home values in the year to April 2015 Annual change in Brisbane and regional Qld home values* Source: CoreLogic RP Data *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas Source: CoreLogic RP Data -% % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr .% .% .% .% .% .% .% -.% -.% .% -.% -% -% -% % % % % % Brisbane Gold Coast Sunshine Coast West Moreton Wide Bay-Burnett Darling Downs South West Fitzroy Central West Mackay Northern .% .% Far North North West Expectations for house price growth in Queensland to March 2016 are up at 3.3%. 3.3% Capital growth is expected to be led by Brisbane at 3% at year end Dec 2015. 3%
- 10. Top 5 most affordable suburbs Top 5 most expensive suburbs UnitHouseUnitHouse National Overview Brisbane top performers — 9 Brisbane top performers Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 South Brisbane QLD Brisbane $807,794 23.9% 2 Cedar Creek QLD Moreton Bay $809,944 19.1% 3 New Farm QLD Brisbane $1,206,455 19.0% 4 Chermside West QLD Brisbane $516,916 17.2% 5 Murarrie QLD Brisbane $568,554 16.8% 6 Yeerongpilly QLD Brisbane $745,770 15.3% 7 Seven Hills QLD Brisbane $710,166 14.1% 8 West End QLD Brisbane $879,678 13.6% 9 Holland Park QLD Brisbane $628,734 13.4% 10 Tarragindi QLD Brisbane $647,141 13.0% 11 Yeronga QLD Brisbane $724,507 12.6% 12 North Booval QLD Ipswich $266,863 12.3% 13 Tennyson QLD Brisbane $651,413 12.3% 14 Drewvale QLD Brisbane $515,128 12.1% 15 Gordon Park QLD Brisbane $749,024 12.1% 16 East Brisbane QLD Brisbane $772,188 12.1% 17 Chermside QLD Brisbane $514,737 11.9% 18 Mount Gravatt QLD Brisbane $568,844 11.6% 19 Mackenzie QLD Brisbane $707,602 11.6% 20 Herston QLD Brisbane $683,152 11.5% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 Dutton Park QLD Brisbane $508,118 37.2% 2 Banyo QLD Brisbane $413,356 20.0% 3 Capalaba QLD Redland $343,471 17.9% 4 Durack QLD Brisbane $347,269 15.1% 5 Bundamba QLD Ipswich $211,824 14.9% 6 Alexandra Hills QLD Redland $322,686 12.0% 7 Darra QLD Brisbane $321,958 11.6% 8 Graceville QLD Brisbane $416,176 10.7% 9 Cleveland QLD Redland $376,837 10.6% 10 Logan Central QLD Logan $191,361 10.4% 11 Sinnamon Park QLD Brisbane $424,715 10.4% 12 Paddington QLD Brisbane $516,147 10.2% 13 Slacks Creek QLD Logan $225,954 9.7% 14 Daisy Hill QLD Logan $306,610 9.6% 15 Kingston QLD Logan $278,724 9.2% 16 Kedron QLD Brisbane $355,165 9.0% 17 Everton Park QLD Brisbane $379,705 8.8% 18 Carindale QLD Brisbane $459,321 8.8% 19 Seven Hills QLD Brisbane $435,183 8.6% 20 Manly West QLD Brisbane $381,654 8.4% Suburb State Council region Median value Russell Island QLD Redland $222,398 Riverview QLD Ipswich $228,673 Leichhardt QLD Ipswich $230,900 Basin Pocket QLD Ipswich $231,242 Lamb Island QLD Redland $234,351 Suburb State Council region Median value Teneriffe QLD Brisbane $1,492,939 Ascot QLD Brisbane $1,290,733 New Farm QLD Brisbane $1,206,455 Hamilton QLD Brisbane $1,162,066 Chandler QLD Brisbane $1,138,935 Suburb State Council region Median value Tennyson QLD Brisbane $978,807 Newstead QLD Brisbane $643,376 Bardon QLD Brisbane $585,948 Mount Ommaney QLD Brisbane $584,716 Bulimba QLD Logan $564,660 Suburb State Council region Median value Bethania QLD Logan $150,372 Beenleigh QLD Logan $188,806 Logan Central QLD Logan $191,361 Woodridge QLD Logan $193,942 Edens Landing QLD Logan $196,244 CoreLogic RP Data’s View
- 11. CoreLogic RP Data’s View months $ National Overview South Australia Overview — 10 NAB’s View: Adelaide house price expectations NAB Residential Property Survey: SA South Australia Overview Home values have increased at a moderate pace over the past year in Adelaide according to the CoreLogic RP Data Home Value Index. The Index shows home values have increased by 1.7% over the past year, with units recording a stronger level of value growth (2.6%) relative to houses (1.6%). Over the current growth phase (since July 2012), Adelaide home values have increased by 10.1% and have only just returned to their previous peak levels. Since the end of 2008, Adelaide home values have increased by 12.2% in total. Value growth in regional South Australia has been diverse with house values falling by as much as -6.2% in the Eyre region and rising by as much as 7.9% in Murray Lands. Outer Adelaide (4.1%) and Murray Lands (7.9%) were the only two regional areas in which values rose over the past year. Across the rest of the regional areas home values have fallen highlighting weaker housing market conditions in agricultural and resource areas of the state. Adelaide has experienced moderate home value growth over the past year Annual change in Adelaide and regional SA home values* Source: CoreLogic RP Data *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas Source: CoreLogic RP Data -% -% % % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr .% .% -.% .% -.% -.% -.% -% -%-% -% % % % % % % Adelaide Outer Adelaide Yorke and Lower North Murray Lands South East Eyre Northern Expectations for house prices in South Australia to March 2016 have been scaled back to -0.4%. -0.4% Adelaide is expected to experience mild capital growth at 0.4% at year end Dec 2015. 0.4%
- 12. Top 5 most affordable suburbs Top 5 most expensive suburbs UnitHouseUnitHouse National Overview Adelaide top performers — 11 Adelaide top performers Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 Unley Park SA Unley $1,621,488 27.1% 2 Kingston Park SA Holdfast Bay $814,251 25.0% 3 Woodville Park SA Charles Sturt $539,037 20.3% 4 Heathpool SA Norwood Payneham St Peters $951,573 20.1% 5 Glenside SA Burnside $797,297 18.4% 6 Dulwich SA Burnside $875,715 17.5% 7 Hyde Park SA Unley $1,023,537 16.5% 8 Rosslyn Park SA Burnside $919,076 16.1% 9 Uraidla SA Adelaide Hills $575,730 16.0% 10 Cumberland Park SA Mitcham $619,876 13.5% 11 Teringie SA Adelaide Hills $745,101 13.3% 12 Leabrook SA Burnside $1,118,302 12.5% 13 Daw Park SA Mitcham $517,148 12.2% 14 Felixstow SA Norwood Payneham St Peters $521,944 11.8% 15 Eastwood SA Burnside $624,351 11.7% 16 Walkley Heights SA Salisbury $518,590 11.4% 17 Westbourne Park SA Mitcham $739,746 11.3% 18 Marden SA Norwood Payneham St Peters $615,539 11.1% 19 Colonel Light Gardens SA Mitcham $639,081 10.7% 20 Kidman Park SA Charles Sturt $567,590 10.7% Highest capital gain over past year –Units Suburb State Council region Median value Change in median value over past year 1 Wayville SA Unley $378,572 17.6% 2 Maylands SA Norwood Payneham St Peters $383,766 13.3% 3 Torrensville SA West Torrens $356,812 12.2% 4 Malvern SA Unley $373,361 8.9% 5 Dulwich SA Burnside $343,225 8.3% 6 Henley Beach SA Charles Sturt $379,894 7.7% 7 West Beach SA Charles Sturt $316,475 7.6% 8 Henley Beach South SA Charles Sturt $308,552 7.2% 9 Hazelwood Park SA Burnside $361,670 6.3% 10 Torrens Park SA Mitcham $348,227 6.2% 11 North Haven SA Port Adelaide Enfield $443,825 6.0% 12 Findon SA Charles Sturt $313,995 5.2% 13 Eastwood SA Burnside $537,553 5.0% 14 Lockleys SA West Torrens $311,030 4.8% 15 Mitcham SA Mitcham $365,420 4.7% 16 Everard Park SA Unley $285,594 4.4% 17 Richmond SA West Torrens $284,179 4.2% 18 Unley SA Unley $420,215 4.2% 19 Plympton SA West Torrens $279,864 4.1% 20 Forestville SA Unley $360,584 4.1% Suburb State Council region Median value Elizabeth North SA Playford $173,357 Davoren Park SA Playford $176,869 Smithfield Plains SA Playford $186,247 Elizabeth Downs SA Playford $192,622 Elizabeth Grove SA Playford $195,044 Suburb State Council region Median value Eastwood SA Burnside $537,553 Glenelg SA Holdfast Bay $472,650 Norwood SA Norwood Payneham St Peters $471,799 North Adelaide SA Adelaide $465,745 Rose Park SA Burnside $459,511 Suburb State Council region Median value Springfield SA Mitcham $1,748,269 Unley Park SA Unley $1,621,488 Medindie SA Walkerville $1,501,005 Toorak Gardens SA Burnside $1,259,308 Rose Park SA Burnside $1,196,042 Suburb State Council region Median value Elizabeth Vale SA Playford $140,727 Elizabeth Grove SA Playford $155,989 Elizabeth North SA Playford $163,680 Salisbury SA Salisbury $181,113 Salisbury North SA Salisbury $190,130 CoreLogic RP Data’s View
- 13. CoreLogic RP Data’s View months $ National Overview Western Australia Overview — 12 NAB’s View: Perth house price expectations NAB Residential Property Survey: WA Western Australia Overview Home value growth in Perth has slowed markedly over the past two years which is highlighted by the fact that home values have barely moved over the past year. According to the CoreLogic RP Data Home Value Index, Perth home values have increased by 0.3% over the past year with house values increasing by 0.6% and unit values falling by -3.5%. Throughout the current growth phase (since November 2011), Perth home values have increased by 15.2%. Values are showing two distinct trends across the state of Western Australia. Values are showing moderate rises in lifestyle markets while those areas most closely linked to the resources sector have recorded value falls over the past year. Across the regions, Midlands to the north of Perth has recorded the greatest increase in values while the resource areas of Pilbara and Kimberley have recorded the largest value falls over the year. Home value growth in Perth has slowed over the past two years Annual change in Perth and regional WA home values* Source: CoreLogic RP Data *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas Source: CoreLogic RP Data -% % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr .% .% .% .% .% -.% -.% -.% -.% -% -%-% -% % % % % % % % Perth South West Lower Great Southern Upper Great Southern Midlands South Eastern Central Pilbara Kimberley Expectations for house price growth in Western Australia remain flat to March 2016. 0.0% House prices in Perth are expected to fall -2.5% at year end Dec 2015. -2.5%
- 14. Top 5 most affordable suburbs Top 5 most expensive suburbs UnitHouseUnitHouse National Overview Perth top performers — 13 Perth top performers Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 Hilbert WA Armadale $508,944 23.2% 2 Coolbellup WA Cockburn $531,371 22.6% 3 Two Rocks WA Wanneroo $463,788 21.2% 4 Willagee WA Melville $603,633 15.9% 5 Bull Creek WA Melville $790,774 14.8% 6 Floreat WA Cambridge $1,457,945 13.6% 7 Wembley WA Cambridge $1,148,278 13.4% 8 Forrestfield WA Kalamunda $476,046 13.2% 9 South Fremantle WA Fremantle $1,058,300 13.0% 10 Kardinya WA Melville $748,518 12.9% 11 Booragoon WA Melville $990,845 12.9% 12 Leeming WA Melville $772,090 12.1% 13 Watermans Bay WA Stirling $1,168,371 12.0% 14 North Fremantle WA Fremantle $1,149,144 11.7% 15 Alfred Cove WA Melville $909,249 11.6% 16 Brabham WA Swan $432,958 11.1% 17 Piara Waters WA Armadale $534,187 11.0% 18 Southern River WA Gosnells $636,121 10.4% 19 Nedlands WA Nedlands $1,627,833 9.6% 20 Spearwood WA Cockburn $574,622 9.6% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 Lathlain WA Victoria Park $526,699 48.3% 2 Yanchep WA Wanneroo $350,965 32.4% 3 Wembley Downs WA Stirling $655,959 29.7% 4 Beckenham WA Gosnells $429,798 20.8% 5 North Fremantle WA Fremantle $843,665 15.8% 6 Leeming WA Melville $562,762 14.6% 7 Burswood WA Victoria Park $747,026 14.0% 8 Kallaroo WA Joondalup $447,195 13.4% 9 Morley WA Bayswater $511,960 13.0% 10 Palmyra WA Melville $560,052 11.4% 11 Woodvale WA Joondalup $420,922 10.8% 12 Langford WA Gosnells $349,110 9.9% 13 Bassendean WA Bassendean $431,406 9.5% 14 Mosman Park WA Mosman Park $408,621 8.2% 15 Kewdale WA Belmont $442,555 8.1% 16 East Fremantle WA East Fremantle $579,288 7.5% 17 Joondanna WA Stirling $510,424 7.4% 18 Como WA South Perth $567,510 7.3% 19 Myaree WA Melville $381,985 6.2% 20 Coolbellup WA Cockburn $340,919 5.8% Suburb State Council region Median value Medina WA Kwinana $289,480 Hillman WA Rockingham $320,386 Armadale WA Armadale $322,340 Calista WA Kwinana $323,792 Parmelia WA Kwinana $324,168 Suburb State Council region Median value Claremont WA Claremont $875,700 North Fremantle WA Fremantle $843,665 North Beach WA Stirling $790,929 Mount Pleasant WA Melville $759,824 Cottesloe WA Cottesloe $752,733 Suburb State Council region Median value Orelia WA Kwinana $209,184 Parmelia WA Kwinana $220,704 Shoalwater WA Rockingham $286,092 Midvale WA Swan $286,279 Armadale WA Armadale $288,378 Suburb State Council region Median value Peppermint Grove WA Peppermint Grove $3,191,278 Dalkeith WA Nedlands $2,596,755 Cottesloe WA Cottesloe $1,938,139 Nedlands WA Nedlands $1,627,833 City Beach WA Cambridge $1,625,635 CoreLogic RP Data’s View
- 15. CoreLogic RP Data’s View National Overview Northern Territory Darwin — 14 months NAB Residential Property Survey: NT Northern Territory Overview According to the CoreLogic RP Data Home Value Index, home values across Darwin have fallen by -1.6% over the 12 months to April 2015. The decline in home values has been driven by an annual fall in both house (-1.7%) and unit (-0.9%) values. Darwin is the only capital city in which home values have fallen over the year however, it has recorded the greatest increase in home values over the past decade. Over the current growth phase commencing in February 2012, Darwin home values have increased by 17.7%. Darwin has seen home values fall over the past year Source: CoreLogic RP Data -% -% % % % % Apr Apr Apr Apr Apr Apr Apr Apr Expectations for house prices in the Northern Territory to March 2016 have been scaled back to -0.4%. -0.4% Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 Bellamack NT Palmerston $654,759 11.4% 2 Johnston NT Palmerston $524,166 10.3% 3 Mcminns Lagoon NT Litchfield $822,084 6.3% 4 Berry Springs NT Litchfield $712,228 4.2% 5 Bees Creek NT Litchfield $772,724 3.5% 6 Howard Springs NT Litchfield $829,941 2.8% 7 Nakara NT Darwin $643,597 1.4% 8 Rapid Creek NT Darwin $715,285 0.8% 9 Darwin River NT Litchfield $560,348 0.7% 10 Anula NT Darwin $577,680 0.6% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 Nightcliff NT Darwin $454,864 11.8% 2 Johnston NT Palmerston $469,400 11.4% 3 Wagaman NT Darwin $346,650 9.6% 4 Millner NT Darwin $419,673 7.7% 5 Coconut Grove NT Darwin $434,323 7.5% 6 Tiwi NT Darwin $428,945 7.0% 7 Rapid Creek NT Darwin $485,685 3.9% 8 Brinkin NT Darwin $430,441 3.2% 9 Fannie Bay NT Darwin $603,940 2.5% 10 Rosebery NT Palmerston $438,941 -1.0% Top 5 most expensive suburbs UnitHouse Suburb State Council region Median value Fannie Bay NT Darwin $1,140,320 Bayview NT Darwin $992,498 Lyons NT Darwin $842,355 Howard Springs NT Litchfield $829,941 Mcminns Lagoon NT Litchfield $822,084 Suburb State Council region Median value Bayview NT Darwin $665,366 Fannie Bay NT Darwin $603,940 Berrimah NT Unincorporated NT $533,090 Larrakeyah NT Darwin $527,514 Woolner NT Darwin $524,947 Top 5 most affordable suburbs UnitHouse Suburb State Council region Median value Moulden NT Palmerston $457,365 Gray NT Palmerston $478,592 Woodroffe NT Palmerston $499,763 Driver NT Palmerston $506,921 Johnston NT Palmerston $524,166 Suburb State Council region Median value Wagaman NT Darwin $346,650 Gray NT Palmerston $355,289 Driver NT Palmerston $385,160 Bakewell NT Palmerston $390,527 Karama NT Darwin $398,016 Darwin top performers
- 16. CoreLogic RP Data’s View National Overview Tasmania Hobart — 15 Tasmania Overview Home value growth in Hobart remains moderate despite earlier signs that housing market conditions were trending higher after a long period of flat to negative growth. According to the CoreLogic RP Data Home Value Index, Hobart home values have increased by 1.2% over the 12 months to April 2015. Looking at the breakdown between houses and units, houses (1.6%) have recorded an increase over the year while unit values (-3.4%) have fallen. Home value growth in Hobart remains moderate Annual change in Hobart and regional Tas home values* Source: CoreLogic RP Data *Data for homes in capital cities, houses in regional areas. Data to Apr-15 for capital cities, Mar-15 for regional areas Source: CoreLogic RP Data -% % % % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr .% .% -.% .% % % % % % % Hobart Southern Northern Mersey-Lyell Highest capital gain over past year – Houses Suburb State Council region Median value Change in median value over past year 1 Lenah Valley TAS Hobart $400,423 7.2% 2 Snug TAS Kingborough $346,965 6.0% 3 Mount Stuart TAS Hobart $472,956 6.0% 4 Seven Mile Beach TAS Clarence $426,656 5.8% 5 Rose Bay TAS Clarence $462,760 5.6% 6 West Hobart TAS Hobart $502,298 5.5% 7 Dodges Ferry TAS Sorell $266,980 5.5% 8 Opossum Bay TAS Clarence $448,661 5.4% 9 North Hobart TAS Hobart $436,413 5.2% 10 Berriedale TAS Glenorchy $259,583 5.0% Highest capital gain over past year – Units Suburb State Council region Median value Change in median value over past year 1 North Hobart TAS Hobart $383,597 12.8% 2 Blackmans Bay TAS Kingborough $280,976 10.0% 3 Sorell TAS Sorell $243,457 7.0% 4 Moonah TAS Glenorchy $222,928 5.7% 5 Rokeby TAS Clarence $210,825 5.2% 6 Margate TAS Kingborough $266,134 4.6% 7 Lindisfarne TAS Clarence $297,822 3.6% 8 Battery Point TAS Hobart $535,592 3.0% 9 Howrah TAS Clarence $291,150 1.8% 10 Kingston TAS Kingborough $274,084 1.7% Suburb State Council region Median value Gagebrook TAS Brighton $135,530 Clarendon Vale TAS Clarence $155,346 Bridgewater TAS Brighton $169,075 Risdon Vale TAS Clarence $177,195 Rokeby TAS Clarence $196,417 Suburb State Council region Median value Battery Point TAS Hobart $854,590 Sandy Bay TAS Hobart $649,263 Acton Park TAS Clarence $583,072 Tranmere TAS Clarence $521,758 Hobart TAS Hobart $513,323 Suburb State Council region Median value Battery Point TAS Hobart $535,592 Hobart TAS Hobart $416,111 North Hobart TAS Hobart $383,597 Sandy Bay TAS Hobart $358,622 West Hobart TAS Hobart $334,201 Suburb State Council region Median value Claremont TAS Glenorchy $197,969 Glenorchy TAS Glenorchy $198,113 Montrose TAS Glenorchy $204,194 Brighton TAS Brighton $206,072 Rokeby TAS Clarence $210,825 Top 5 most expensive suburbs UnitHouse Top 5 most affordable suburbs UnitHouse Hobart top performers Over the current growth phase commencing in December 2013, Hobart home values have increased by a total of 10.7% however they remain below their previous peak. Values have fallen over the past year in the Northern region of the state. Meanwhile, the sparsely populated Southern region has recorded a substantial rise in home values. The two most densely populated areas; Hobart and Mersey-Lyell have recorded quite subtle increases in home values over the past year.
- 17. CoreLogic RP Data’s View National Overview Australia Capital Territory Canberra — 16 Australian Capital Territory Overview Canberra home values have fallen in real terms over the past year after recording a low level of capital growth. According to the CoreLogic RP Data Home Value Index results for April, home values across the city have increased by 1.1% over the year. The 1.1% rise is comprised of a 1.3% increase in house values and a -2.1% fall in unit values. Canberra home values have increased by 6.8% over the current growth phase (since February 2012), the lowest value increase of all capital cities over the period. Canberra home values have fallen marginally over the past year Source: CoreLogic RP Data -% -% % % % % % % % % Apr Apr Apr Apr Apr Apr Apr Apr Apr Apr Highest capital gain over past year – Houses Suburb State Median value Change in median value over past year 1 Crace ACT $542,106 28.6% 2 Campbell ACT $1,012,485 27.8% 3 Garran ACT $925,074 21.7% 4 Mckellar ACT $684,723 21.4% 5 Isaacs ACT $987,513 21.4% 6 Aranda ACT $742,801 16.6% 7 Deakin ACT $1,036,744 13.3% 8 Lyons ACT $646,322 13.2% 9 Chifley ACT $647,786 13.2% 10 Pearce ACT $721,019 13.2% Highest capital gain over past year – Units Suburb State Median value Change in median value over past year 1 O'Connor ACT $467,925 13.5% 2 Kambah ACT $398,973 13.2% 3 Isaacs ACT $539,091 10.4% 4 Hughes ACT $281,784 9.8% 5 Red Hill ACT $426,916 9.5% 6 Barton ACT $554,544 9.5% 7 Franklin ACT $356,713 9.2% 8 Gordon ACT $376,345 8.9% 9 Conder ACT $388,589 7.4% 10 Banks ACT $392,302 5.7% Top 5 most expensive suburbs UnitHouse Top 5 most affordable suburbs UnitHouse Canberra top performers Suburb State Median value Charnwood ACT $391,560 Ngunnawal ACT $418,678 Higgins ACT $436,762 Holt ACT $438,770 Richardson ACT $450,038 Suburb State Median value Hughes ACT $281,784 Curtin ACT $303,398 Chifley ACT $307,429 Lyons ACT $309,846 Hawker ACT $320,314 Suburb State Median value Forrest ACT $2,010,316 Yarralumla ACT $1,455,935 Griffith ACT $1,252,936 Red Hill ACT $1,226,126 Deakin ACT $1,036,744 Suburb State Median value Yarralumla ACT $835,721 Deakin ACT $706,613 Forrest ACT $597,181 Barton ACT $554,544 Isaacs ACT $539,091
- 18. 1. Important information about CoreLogic RP Data The information in this report on a white background headed ‘CoreLogic RP Data’ is provided by RP Data Pty Ltd trading as CoreLogic Asia Pacific (referred to in this report as ‘CoreLogic RP Data’). The following information relates to CoreLogic RP Data’s information in the report. This information is referred to as ‘CoreLogic Data’. Copyright Notice All rights title and interest (including all intellectual property rights, creations or inventions) in or to the CoreLogic Data remain vested in CoreLogic RP Data and its licensors (including Local, State, and Commonwealth Governments). 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National Overview Disclaimer — 17 Important information about this report