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2
Note: ‘this year’ = April 2015, ‘last year’ = April 2014
Sales volume
House price
Unit price
Days on market
Houses
7,088
95
this year
$619,532
median
+5.1%
annual change
+5.0%
annual change
$406,197
median
63
last year
Units
710
5.7%
this year
5.3%
last year
Perth
Discounting
Sales volume
House price
Unit price
Houses
204
$655,615
median
+1.3%
annual change
+8.7%
annual change
$462,063
median
Units
186
Darwin
Sales volume
House price
Unit price
Days on market
Houses
5,609
100
this year
$462,129
median
+5.8%
annual change
+1.5%
annual change
$290,341
median
122
last year
Units
958
5.9%
this year
6.5%
last year
Adelaide
Discounting
7
+
2
+
+
1
1
+
6 230
108
this year
03 19 -2.0
-0.1
5 463
4
621
6 4
5
188
47,402 -2 8
6.2%
7 841
205
284
99
this year
76 4 6 4. %
5.3
6 03
16
2
6 2
4
Darwin
Perth
Adelaide
National
overview
Data source: APM. Data range: 3 months to March 2015 (price); 3 months to
April 2015 (Days on market, discounting)
Capital city housing markets recorded mixed
price growth over the March quarter. The two
interest rate reductions by the Reserve Bank of
Australia this year are expected to assist those
markets which have seen softer growth and
improve confidence in mid to upper price ranges
in most markets.
Activity levels reflected the performance of local
economies and the underlying supply and demand
dynamics. Sydney was the clear price growth leader
and remains on track for another double digit growth
performance over 2015.
In the Sydney market strong investor activity remained
a key ingredient, although robust changeover buyer
activity significantly contributed to price growth.
The Melbourne market revived over the March quarter,
producing solid price growth after moderating over the
latter part of 2014. Aspirational buyer activity in mid to high
price ranges was the key to Melbourne’s market revival,
with the eastern suburbs remaining the growth epicentre.
The Brisbane market paused over the March quarter,
following solid results over the past two years. The
performance of the local Brisbane and Queensland state
economies remains an impediment to growth. With that
said, the prospect of renewed growth remains for the
remainder of 2015.
The Adelaide and Canberra housing markets continue
to record solid performances as value perceptions and
lower interest rates continue to revive those markets,
despite their local economies’ underperformance.
The Perth housing market, however, is now showing
clear signs of a retreat in activity as the downturn in the
resource sector impacts buyer and seller activity.
Perth prices fell sharply over the March quarter following
a flat price growth over 2014. Waning confidence will
negatively impact on housing market activity and price
growth over the remainder of 2015.
The Hobart and Darwin markets have recorded modest
growth in the first quarter of 2015, with moderate
prospects for the remainder of 2015 pending an
improvement in local economic performance.
Lower interest rates are improving mortgage affordability
and ensuring housing market prospects continue to
improve for the rest of 2015. As usual, much will depend
on the economic performance of local capital city
markets as the mixed results over the first quarter of
2015 clearly indicate.