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How are ACT and
NSW prices tracking?
Strong entry-level activity
Sydney entry-level house prices increased by 3.6 per cent over the
quarter, equating to 15.4 per cent over the year. Sydney entry level
units also produced a solid performance increasing by 2.7 per cent
over the quarter for an annual increase of 10.9 per cent.
Mid-range house prices rise sharply
Sydney’s mid-range house prices increased sharply by 5.1 per cent over
the quarter and were 18.1 per cent higher over the year. Mid-range unit
prices, however, increased marginally by 0.3 per cent over the quarter but
were up by 7.3 per cent over the year.
Sydney prestige market on the rise
Prestige house prices in Sydney increased by 6.4 per cent over the
quarter for a rise of 14.4 per cent over the year. Sydney’s prestige
unit prices, however, increased modestly by 1.3 per cent over the
quarter for an annual increase of 9.7 per cent.
Sydney
Canberra
Sydney
Canberra
Mid-range
houses
*
Mid-range
units
*
Qrtly change
Qrtly change
Qrtly change
Qrtly change
Yrly change
Yrly change
Yrly change
Yrly change
5.1%
4.8%
0.3%
-1.9%
18.1%
7.0%
7.3%
-0.3%
$$
$$
*Mid-range is defined as suburbs within the 40th to 80th per centile (median price)
Sydney
Canberra
Sydney
Canberra
Upper-end
houses
*
Upper-end
units
*
Qrtly change
Qrtly change
Qrtly change
Qrtly change
Yrly change
Yrly change
Yrly change
Yrly change
6.4%
1.1%
1.3%
1.8%
14.4%
10.9%
9.7%
9.8%
$$$
$$$
*Upper-end is defined as suburbs above the 80th per centile (median price)
Confidence returns to the ACT
Canberra recorded price growth in the first quarter which was
the first consecutive quarter recorded by the national capital for a
number of years.
Buyer activity gained momentum towards the end of 2014 and
has continued into the first quarter of the year. Demand is on the
rise but the growth in supply has not kept pace, resulting in stock
levels becoming relatively low. House prices increased by 4.1 per
cent over the year, reflecting the shortage of detached houses
on the market coupled with strong demand driving competition
between prospective buyers.
Solid results for regional NSW
Most NSW regional areas reported solid price growth over the
past year, reflecting boom conditions in the Sydney market
and the nation-leading performance of the NSW economy.
Wollongong was clearly the best performer over the past
year with prices up by 13 per cent, followed by Murray, which
recorded a 9.7 per cent price rise. Prices increased by 9.4 per
cent over in the Southern Highlands and Shoalhaven but fell
by 1.6 per cent in the Central West.
Riverina
Capital Region
Central West
Southern Highlands
and Shoalhaven
Murray
Wollongong
13.0%
9.7%
9.4%
-1.6%
1.8%
2.5%
Bottom 3
Top 3
Yearly median price growth by region
Houses
Yearly median price growth by region
Houses
Tuggeranong
Belconnen
South Canberra
Gungahlin
North Canberra
Woden
10.6%
8.4%
4.8%
1.8%
3.1%
3.2%
Bottom 3
Top 3
Data source: APM
ACT commentary courtesy of Allhomes
Sydney
Canberra
Sydney
Canberra
Entry-level
houses
*
Entry-level
units
*
3.6%
0.5%
2.7%
-2.6%
15.4%
2.4%
10.9%
-8.8%
$
$
*Entry-level is defined as suburbs below the 40th per centile (median price)
Qrtly change
Qrtly change
Yrly change
Yrly change
Qrtly change
Qrtly change
Yrly change
Yrly change