Median Prices for Australian Property.
For many years there have been discussions on the value of property in Australia, and the rest of the world, and the most vocal comments have been the consistent statements that a property price bust will occur SOON.
I have seen these comments starting from around the year 2005, with many people saying that Australian property prices will drop by around 50%, as the values of the day could not continue.
From the information below it can be seen that the anticipated Property Value Busts have never really materialised, and property has continued to rise, especially in the Capital Cities.
Looking at the Ten year period from 2004 to 2014 we can see the following average increases:
Average Annualised Median property price Increases for Detached Houses from 2004 to 2014
- 3.00% Sydney (Lowest average increases)
- 5.66% Melbourne
- 4.40% Brisbane
- 5.05% Adelaide
- 8.10% Perth
- 6.05% Hobart
- 9.25% Darwin (Highest average increases)
- 3.60% Canberra
Median prices for Established Detached Houses in the Capital Cities of Australia:
| Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra | |
| Mar-2004 | $ 523,000 | $ 305,000 | $ 302,700 | $ 250,000 | $ 255,000 | $ 200,000 | $ 239,500 | $ 375,000 |
| Mar-2005 | $ 486,000 | $ 310,000 | $ 312,000 | $ 270,000 | $ 290,000 | $ 240,000 | $ 275,000 | $ 374,700 |
| Mar-2006 | $ 470,000 | $ 330,000 | $ 325,000 | $ 280,000 | $ 370,000 | $ 260,000 | $ 341,500 | $ 385,000 |
| Mar-2007 | $ 480,000 | $ 345,000 | $ 352,000 | $ 305,000 | $ 475,000 | $ 280,000 | $ 389,500 | $ 430,000 |
| Mar-2008 | $ 495,000 | $ 385,000 | $ 425,000 | $ 360,000 | $ 470,000 | $ 308,500 | $ 420,000 | $ 470,000 |
| Mar-2009 | $ 448,000 | $ 375,000 | $ 400,000 | $ 353,500 | $ 439,000 | $ 296,500 | $ 455,000 | $ 459,500 |
| Mar-2010 | $ 583,000 | $ 468,000 | $ 460,000 | $ 402,000 | $ 518,000 | $ 350,500 | $ 529,000 | $ 530,000 |
| Mar-2011 | $ 575,000 | $ 485,000 | $ 450,000 | $ 400,000 | $ 500,000 | $ 338,000 | $ 510,000 | $ 530,000 |
| Mar-2012 | $ 607,500 | $ 478,000 | $ 430,000 | $ 382,000 | $ 489,500 | $ 343,000 | $ 525,000 | $ 512,500 |
| Mar-2013 | $ 615,000 | $ 486,000 | $ 439,500 | $ 395,000 | $ 520,000 | $ 340,000 | $ 530,000 | $ 505,000 |
| Mar-2014 | $ 702,000 | $ 529,000 | $ 465,000 | $ 410,000 | $ 555,000 | $ 360,000 | $ 580,000 | $ 535,000 |
| 10 year Change | 34.23% | 73.44% | 53.62% | 64.00% | 117.65% | 80.00% | 142.17% | 42.67% |
Median prices for Established Detached Houses: Non Capital Cities of Australia
| NSW | Victoria | Queensland | S.A. | W.A. | Tasmania | N.T. | |
| Mar-2004 | $ 265,000 | $ 190,000 | $ 224,000 | $ 166,600 | $ 178,000 | $ 156,000 | $ 217,800 |
| Mar-2005 | $ 280,000 | $ 210,000 | $ 270,000 | $ 187,000 | $ 225,000 | $ 179,000 | $ 231,000 |
| Mar-2006 | $ 290,000 | $ 224,000 | $ 309,000 | $ 210,000 | $ 295,000 | $ 192,000 | $ 215,000 |
| Mar-2007 | $ 300,000 | $ 230,000 | $ 347,000 | $ 223,000 | $ 370,000 | $ 210,000 | $ 250,000 |
| Mar-2008 | $ 308,000 | $ 243,500 | $ 380,000 | $ 250,000 | $ 390,000 | $ 239,500 | $ 285,000 |
| Mar-2009 | $ 300,000 | $ 238,000 | $ 370,000 | $ 248,000 | $ 360,000 | $ 235,000 | $ 321,000 |
| Mar-2010 | $ 340,000 | $ 275,000 | $ 400,000 | $ 280,000 | $ 410,000 | $ 262,000 | $ 364,000 |
| Mar-2011 | $ 345,000 | $ 293,000 | $ 392,800 | $ 270,000 | $ 385,300 | $ 263,900 | $ 430,000 |
| Mar-2012 | $ 345,000 | $ 297,500 | $ 380,000 | $ 270,000 | $ 385,000 | $ 250,000 | $ 395,000 |
| Mar-2013 | $ 357,800 | $ 298,000 | $ 390,000 | $ 247,800 | $ 380,500 | $ 250,000 | $ 415,000 |
| Mar-2014 | $ 370,000 | $ 310,000 | $ 408,000 | $ 260,000 | $ 392,000 | $ 250,000 | $ 404,500 |
Median prices for Established Attached Dwellings in the Capital Cities of Australia
| Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra | |
| Mar-2004 | $ 380,000 | $ 272,500 | $ 249,000 | $ 193,500 | $ 208,000 | $ 192,000 | $ 147,100 | $ 295,000 |
| Mar-2005 | $ 385,000 | $ 285,000 | $ 257,000 | $ 212,000 | $ 235,000 | $ 220,000 | $ 175,000 | $ 304,500 |
| Mar-2006 | $ 375,000 | $ 299,500 | $ 280,000 | $ 225,000 | $ 292,000 | $ 225,000 | $ 235,000 | $ 310,000 |
| Mar-2007 | $ 380,000 | $ 320,000 | $ 305,000 | $ 245,000 | $ 370,000 | $ 240,000 | $ 280,000 | $ 325,000 |
| Mar-2008 | $ 397,500 | $ 360,000 | $ 360,000 | $ 295,000 | $ 380,000 | $ 245,000 | $ 306,300 | $ 370,000 |
| Mar-2009 | $ 380,000 | $ 348,000 | $ 349,800 | $ 300,000 | $ 350,000 | $ 255,000 | $ 370,000 | $ 372,500 |
| Mar-2010 | $ 450,000 | $ 424,000 | $ 385,000 | $ 333,000 | $ 420,000 | $ 278,500 | $ 430,200 | $ 410,000 |
| Mar-2011 | $ 479,000 | $ 445,000 | $ 379,000 | $ 339,000 | $ 405,000 | $ 291,500 | $ 415,000 | $ 415,000 |
| Mar-2012 | $ 500,000 | $ 430,000 | $ 376,000 | $ 317,000 | $ 406,000 | $ 268,800 | $ 420,000 | $ 415,000 |
| Mar-2013 | $ 505,000 | $ 430,000 | $ 385,000 | $ 325,000 | $ 430,000 | $ 277,500 | $ 445,000 | $ 412,000 |
| Mar-2014 | $ 565,000 | $ 450,000 | $ 393,000 | $ 330,000 | $ 446,000 | $ 276,800 | $ 507,600 | $ 420,000 |
Median prices for Established Attached Dwellings: NON-Capital Cities of Australia
| NSW | Victoria | Queensland | S.A. | W.A. | Tasmania | N.T. | |
| Mar-2004 | $ 269,000 | $ 173,000 | $ 257,000 | $ 82,900 | $ 139,000 | $ 145,000 | $ 150,000 |
| Mar-2005 | $ 270,000 | $ 190,000 | $ 282,500 | $ 125,000 | $ 183,000 | $ 166,000 | $ 170,500 |
| Mar-2006 | $ 280,000 | $ 200,000 | $ 292,600 | $ 151,300 | $ 235,000 | $ 170,000 | $ 170,000 |
| Mar-2007 | $ 270,000 | $ 200,000 | $ 320,000 | $ 150,000 | $ 285,000 | $ 184,000 | $ 232,800 |
| Mar-2008 | $ 288,300 | $ 229,000 | $ 355,000 | $ 175,000 | $ 320,000 | $ 200,000 | $ 225,000 |
| Mar-2009 | $ 270,500 | $ 210,000 | $ 324,000 | $ 175,000 | $ 315,000 | $ 213,000 | $ 249,000 |
| Mar-2010 | $ 306,000 | $ 235,000 | $ 360,000 | $ 199,500 | $ 347,500 | $ 226,500 | $ 335,000 |
| Mar-2011 | $ 299,000 | $ 250,000 | $ 340,000 | $ 210,000 | $ 310,000 | $ 235,000 | $ 335,000 |
| Mar-2012 | $ 298,500 | $ 245,000 | $ 330,000 | $ 180,000 | $ 325,000 | $ 228,000 | $ 310,000 |
| Mar-2013 | $ 299,000 | $ 236,300 | $ 326,000 | $ 185,000 | $ 315,000 | $ 226,300 | $ 331,300 |
| Mar-2014 | $ 320,000 | $ 245,000 | $ 330,000 | $ 177,000 | $ 332,500 | $ 235,000 | $ 341,000 |
The above figures are sourced from ABS data in the 6416.0 House Price Indexes: Eight Capital Cities report.
Established Detached Houses relate to Houses, not ALL residential property.
Established Attached Dwellings relate to Units, Apartments and other attached properties.
Australian Capital City Median HOUSE prices 2005 to 2009
Australian Capital City Median HOUSE prices 2005 to 2009
Changes per year in percentages, based on September quarter House Median prices.
Annual Median House Price growth from September 2008 to September 2009
- 11.36% Melbourne
- 11.21% Hobart
- 10.48% Darwin
- 7.11% Sydney
- 6.25% Canberra
- 2.57% Adelaide
- 2.10% Perth
- 1.67% Brisbane
Median House price growth for ESTABLISHED Homes between September 2008 and September 2009 source
- 12.3% Darwin
- 8.4% Melbourne
- 7.8% Canberra
- 5.9% Sydney
- 5.6% Brisbane
- 5.4% Hobart
- 4.4% Perth
- 3.7% Adelaide
September 2009
Australian Bureau of Statistics price index for ‘established’ houses in each Capital City, for the quarter to September 2009, showed a national average growth of 4.2% in three months. Individual Cities showed growth of:
- 4.3% Sydney
- 4.7% Melbourne
- 4.5% Perth
- 4.4% Brisbane
- 1.7% Adelaide
- 4.3% Canberra
- 3.4% Darwin
- 1.8% Hobart
Australian Property Monitors September 2009 Quarter Housing Data
KEY POINTS
- House prices rise +3.7% nationally in September quarter.
- Strongest quarterly growth in house prices since 2003
- National House prices up 7.1% in 2009
- Melbourne house prices up 12.3% in 6 months
- House and Unit prices rise in every capital city in September quarter.
More Details at:
- www.homepriceguide.com.au/media_release/APM_HousePriceSeries_SeptemberQ09.pdf
- 6416.0 – House Price Indexes: Eight Capital Cities, Sep 2009
June 2009
Australian Property Monitors June 2009 Quarter Housing Data
KEY POINTS
- House prices rise +3.3% nationally in June quarter, now back at June 2008 levels
- Strongest quarterly growth in house and unit prices since December 2007
- Two largest housing markets lead the way with quarterly price rises of +3.7% in Sydney and
- +5.8% in Melbourne
- Brisbane and Perth the only markets with both house and unit median prices under June 2008
- levels
- Darwin remains strongest market nationally with annual rises for houses and units near +20%
More Details at: