Dec 13, 2017  | Tags: property, mortgage broker

A Look Back at 2017 Could Indicate What's In Store for 2018 ...

While the numbers for Australia’s property market looked relatively steady, a Sydney slide could impact the rest of the country.

Sydney 

According to CoreLogic data at November 30 2017, dwelling values dropped -0.7% for the month and -1.3% for the quarter, which may be cause for concern heading into 2018. However looking over the last 12 months, Sydney was up 5% with a median value of a staggering $904,000.

Melbourne 

It has been another big year for Melbourne, with annual growth at 10% and a median value of just over $718,000.

Perth

The decline in Perth may be over, which will be welcome news to investors who have seen a drop in dwelling values of around 10% since 2014. Perth received positive growth in the last few months of the year, despite being down overall in 2017 at -2.6%.

Adelaide

Adelaide continues to be reliable and somewhat predictable, with a small increase of 0.1% for the last quarter at an overall rise of 3.4%.

Brisbane

Similarly, Brisbane has climbed 2.4% for the year.

Hobart 

Some may be surprised, but Hobart has had the most significant growth in Australia in 2017, up 11.5%.

Canberra

Our nation’s capital has also had a good year, with positive dwelling value of 5.8% over the year.

Darwin 

At the opposite end of the spectrum, Darwin is down 5.5% for 2017.

Looking at the capital cities there are plenty of highs and lows, but overall Australia had positive dwelling value growth of 5.2% for the last 12 months ending November 30 2017. 

Bear in mind though that Sydney has about one fifth of Australia’s dwelling stock, which means it has a significant influence over the broader market, and given the city’s apparent downward trend of recent months the implications could be felt nation wide.

Written by mortgage broker Cliff O’Connell.

For more information please visit the Calder Finance website or call us on (08) 8373 3333. Please note that Calder Finance Broking Pty Ltd is a Corporate Credit Representative of BLSSA Pty Ltd ABN 69 117 651 760 ACL 391237.